TY - JOUR
T1 - Opportunity‐based age replacement
T2 - Exponentially distributed times between opportunities
AU - Dekker, Rommert
AU - Dijkstra, Matthijs C.
PY - 1992/3
Y1 - 1992/3
N2 - This article gives a full analysis of a component‐replacement model in which preventive replacements are only possible at maintenance opportunities. These opportunities arise according to a Poisson process, independently of failures of the component. Conditions for the existence of a unique average optimal control limit policy are established and an equation characterizing the optimal policy and minimal average costs is derived. An important result is that the optimal policy can be described as a so‐called one‐opportunity‐look‐ahead policy. Such policies play an important role as heuristics in more general models. It is shown that there is a correspondence with the well‐known age‐replacement model, which can be considered as an extreme case of the model. Finally, some numerical results are given.
AB - This article gives a full analysis of a component‐replacement model in which preventive replacements are only possible at maintenance opportunities. These opportunities arise according to a Poisson process, independently of failures of the component. Conditions for the existence of a unique average optimal control limit policy are established and an equation characterizing the optimal policy and minimal average costs is derived. An important result is that the optimal policy can be described as a so‐called one‐opportunity‐look‐ahead policy. Such policies play an important role as heuristics in more general models. It is shown that there is a correspondence with the well‐known age‐replacement model, which can be considered as an extreme case of the model. Finally, some numerical results are given.
UR - http://www.scopus.com/inward/record.url?scp=84989678878&partnerID=8YFLogxK
U2 - 10.1002/1520-6750(199203)39:2<175::AID-NAV3220390204>3.0.CO;2-Y
DO - 10.1002/1520-6750(199203)39:2<175::AID-NAV3220390204>3.0.CO;2-Y
M3 - Article
AN - SCOPUS:84989678878
VL - 39
SP - 175
EP - 190
JO - Naval Research Logistics
JF - Naval Research Logistics
SN - 0894-069X
IS - 2
ER -