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Optimum replacement policies with delay

Published online by Cambridge University Press:  14 July 2016

Toshio Nakagawa  and
Shunji Osaki
Toshio Nakagawa*
Affiliation:
Syracuse University
Shunji Osaki*
Affiliation:
University of Southern California, Los Angeles
*
*On leave of absence from Meijo University, Nagoya, Japan.
**Now at Hiroshima University, Japan.
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Abstract

Replacement theory for equipment has been investigated by several authors. This paper introduces the ‘delay’ time preparing for replacement, derives the expected cost per unit time, and discusses the optimum replacement policies under several conditions. Three special cases are discussed and numerical examples are presented.

Keywords

REPLACEMENT PROBLEMS WITH DELAYRENEWAL PROCESSESCOSTSSCHEDULED REPLACEMENTOPTIMIZATION
Type
Research Papers
Information
Journal of Applied Probability , Volume 11 , Issue 1 , March 1974 , pp. 102 - 110
Copyright
Copyright © Applied Probability Trust 1974 

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Footnotes

Research supported by the National Institutes of Health under Grant No. GM 16197–04.

References

Barlow, R. E. and Proschan, F. (1965) Mathematical Theory of Reliability. John Wiley, New York.Google Scholar
Jorgenson, D. W., Mccall, J. J. and Radner, R. (1967) Optimal Replacement Policy. Rand-McNally, Chicago.Google Scholar