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Classical Optimal Replacement Strategies Revisited

Finkelstein, M, Shafiee, M, Kotchap, A.N (2016) Classical Optimal Replacement Strategies Revisited. IEEE Transactions on Reliability, 65 (2). pp. 540-546. ISSN 0018-9529. (doi:10.1109/TR.2016.2515591) (Access to this publication is currently restricted. You may be able to access a copy if URLs are provided) (KAR id:79778)

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This paper considers the generalization of the classical optimal age replacement strategy to the case when the system's output is modelled by the decreasing deterministic function. This function describes an additional source of system's deterioration with time. We derive and analyze the long-run expected cost per unit of time and consider the corresponding optimal replacement problem. Our results show that additional source of degradation decreases the optimal replacement time as compared with the case without output or with a constant in time output. Furthermore, the optimal replacement time can now exist and be finite when the failure time of our system is described by the exponential, non-aging distribution. The cases of periodic replacement and of stochastic output are also considered and analyzed. Some simple examples illustrating our results are given.

Item Type: Article
DOI/Identification number: 10.1109/TR.2016.2515591
Uncontrolled keywords: Stochastic processes; Maintenance engineering; Degradation; Optimization; Reliability; Turbines
Subjects: T Technology > TJ Mechanical engineering and machinery
Divisions: Divisions > Division of Computing, Engineering and Mathematical Sciences > School of Engineering and Digital Arts
Depositing User: Mahmood Shafiee
Date Deposited: 24 Jan 2020 20:53 UTC
Last Modified: 16 Feb 2021 14:11 UTC
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