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On Optimal Replacement Policies for a Deteriorating System  

Ji Hwan Chan (Dept. of Statistical Information, Catholic University of Daegu)
Publication Information
Journal of Korean Society for Quality Management / v.30, no.4, 2002 , pp. 94-105 More about this Journal
Abstract
In this paper, replacement problems for a deteriorating system are considered. In the system under consideration, the successive lifetimes after repair become shorter and shorter, while the consecutive repair times become longer and longer. More specifically, the lifetimes of the system form a nonhomogeneous Poisson process, whereas the consecutive repair times constitute a stochastically increasing geometric process. Optimal replacement policies for the long-run average cost rate and the steady state availability are considered. Also taking the cost and the availability into consideration at the same time, the properties of optimal policies under the Cost Priority Policy and the Availability Priority Policy are obtained.
Keywords
NHPP; Geometric Process; Optimal Replacement Policy; Cost Priority Policy; Availability Priority Policy;
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