An Inspection Policy Model for Production Facilities
AbstractInspection policy models describe stochastically failing systems in which failures are detected by inspections only. We develop such an inspection model for a production facility. The model generalizes the recent work of Munford as well as the classical work of Barlow et al. Revenues are accrued for each time unit in which the facility is known to be in good operating condition. The costs considered include inspection, operating and repair costs. We present a dynamic programming algorithm that maximizes the expected profit between two successive repairs. This algorithm is then imbedded within an iterative procedure that maximizes the expected profit per time unit and the expected profit per time unit of good operating condition.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by INFORMS in its journal Management Science.
Volume (Year): 29 (1983)
Issue (Month): 9 (September)
reliability: inspection; facilities/equipment planning: maintenance/replacement; dynamic programming;
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Subba Rao, S. & Gunasekaran, A. & Goyal, S. K. & Martikainen, T., 1998. "Waiting line model applications in manufacturing," International Journal of Production Economics, Elsevier, vol. 54(1), pages 1-28, January.
- Leung, Francis Kit-nam, 2001. "Inspection schedules when the lifetime distribution of a single-unit system is completely unknown," European Journal of Operational Research, Elsevier, vol. 132(1), pages 106-115, July.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Mirko Janc).
If references are entirely missing, you can add them using this form.