Journal of Korean Society for Quality Management (품질경영학회지)
- Volume 13 Issue 1
- /
- Pages.51-55
- /
- 1985
- /
- 1229-1889(pISSN)
- /
- 2287-9005(eISSN)
Optimal Replacement Policy for a System Subject to Shocks
- Park, Byung Chun (Dept. of Industrial Engineering, Keimyung Univ.) ;
- Jang, Joong Soon (Dept. of Industrial Engineering, Ajou Univ.)
- Published : 1985.06.25
Abstract
A replacement policy for a system subject to shocks where each shock increases the running cost is considered. The shocks arrive to the system according to a nonhomogeneous Poisson process. Optimal replacement policy to minimize the long-run expected cost rate is obtained and some numerical examples are given.
Keywords