IDEAS home Printed from https://ideas.repec.org/a/pal/jorsoc/v60y2009i10d10.1057_jors.2008.99.html
   My bibliography  Save this article

Opportunity-based age replacement with a one-cycle criterion

Author

Listed:
  • P Coolen-Schrijner

    (Durham University)

  • S C Shaw

    (University of Bath)

  • F P A Coolen

    (Durham University)

Abstract

In this paper age replacement (AR) and opportunity-based age replacement (OAR) for a unit are considered, based on a one-cycle criterion, both for a known and unknown lifetime distribution. In the literature, AR and OAR strategies are mostly based on a renewal criterion, but in particular when the lifetime distribution is not known and data of the process are used to update the lifetime distribution, the renewal criterion is less appropriate and the one-cycle criterion becomes an attractive alternative. Conditions are determined for the existence of an optimal replacement age T * in an AR model and optimal threshold age T opp * in an OAR model, using a one-cycle criterion and a known lifetime distribution. In the optimal threshold age T opp *, the corresponding minimal expected costs per unit time are equal to the expected costs per unit time in an AR model. It is also shown that for a lifetime distribution with increasing hazard rate, the optimal threshold age is smaller than the optimal replacement age. For unknown lifetime distribution, AR and OAR strategies are considered within a nonparametric predictive inferential (NPI) framework. The relationship between the NPI-based expected costs per unit time in an OAR model and those in an AR model is investigated. A small simulation study is presented to illustrate this NPI approach.

Suggested Citation

  • P Coolen-Schrijner & S C Shaw & F P A Coolen, 2009. "Opportunity-based age replacement with a one-cycle criterion," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 60(10), pages 1428-1438, October.
    • Handle: RePEc:pal:jorsoc:v:60:y:2009:i:10:d:10.1057_jors.2008.99
    DOI: 10.1057/jors.2008.99
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1057/jors.2008.99
    File Function: Abstract
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1057/jors.2008.99?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Coolen-Schrijner, P. & Coolen, F.P.A., 2007. "Nonparametric adaptive age replacement with a one-cycle criterion," Reliability Engineering and System Safety, Elsevier, vol. 92(1), pages 74-84.
    2. P Coolen-Schrijner & F. P. A. Coolen, 2006. "On Optimality Criteria for Age Replacement," Journal of Risk and Reliability, , vol. 220(1), pages 21-29, June.
    3. Coolen, F. P. A. & Coolen-Schrijner, P., 2003. "A nonparametric predictive method for queues," European Journal of Operational Research, Elsevier, vol. 145(2), pages 425-442, March.
    4. P Coolen-Schrijner & F P A Coolen & S C Shaw, 2006. "Nonparametric adaptive opportunity-based age replacement strategies," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 57(1), pages 63-81, January.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Berrade, M.D. & Scarf, P.A. & Cavalcante, C.A.V., 2017. "A study of postponed replacement in a delay time model," Reliability Engineering and System Safety, Elsevier, vol. 168(C), pages 70-79.
    2. Frank PA Coolen & Tahani Coolen-Maturi & Abdullah H Al-nefaiee, 2014. "Nonparametric predictive inference for system reliability using the survival signature," Journal of Risk and Reliability, , vol. 228(5), pages 437-448, October.
    3. Rebecca M. Baker & Tahani Coolen-Maturi & Frank P. A. Coolen, 2017. "Nonparametric predictive inference for stock returns," Journal of Applied Statistics, Taylor & Francis Journals, vol. 44(8), pages 1333-1349, June.
    4. Aboalkhair, Ahmad M. & Coolen, Frank P.A. & MacPhee, Iain M., 2013. "Nonparametric predictive reliability of series of voting systems," European Journal of Operational Research, Elsevier, vol. 226(1), pages 77-84.
    5. Coolen, Frank P.A. & Coolen-Maturi, Tahani, 2015. "Predictive inference for system reliability after common-cause component failures," Reliability Engineering and System Safety, Elsevier, vol. 135(C), pages 27-33.
    6. Hamidi, Maryam & Szidarovszky, Ferenc & Szidarovszky, Miklos, 2016. "New one cycle criteria for optimizing preventive replacement policies," Reliability Engineering and System Safety, Elsevier, vol. 154(C), pages 42-48.
    7. Truong Ba, H. & Cholette, M.E. & Borghesani, P. & Zhou, Y. & Ma, L., 2017. "Opportunistic maintenance considering non-homogenous opportunity arrivals and stochastic opportunity durations," Reliability Engineering and System Safety, Elsevier, vol. 160(C), pages 151-161.
    8. Melis, Kristina & Campo, Katia & Lamey, Lien & Breugelmans, Els, 2016. "A Bigger Slice of the Multichannel Grocery Pie: When Does Consumers’ Online Channel Use Expand Retailers’ Share of Wallet?," Journal of Retailing, Elsevier, vol. 92(3), pages 268-286.
    9. Sheu, Shey-Huei & Tsai, Hsin-Nan & Sheu, Uan-Yu & Zhang, Zhe George, 2019. "Optimal replacement policies for a system based on a one-cycle criterion," Reliability Engineering and System Safety, Elsevier, vol. 191(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Hamidi, Maryam & Szidarovszky, Ferenc & Szidarovszky, Miklos, 2016. "New one cycle criteria for optimizing preventive replacement policies," Reliability Engineering and System Safety, Elsevier, vol. 154(C), pages 42-48.
    2. Houlding, B. & Coolen, F.P.A., 2012. "Nonparametric predictive utility inference," European Journal of Operational Research, Elsevier, vol. 221(1), pages 222-230.
    3. Sheu, Shey-Huei & Tsai, Hsin-Nan & Sheu, Uan-Yu & Zhang, Zhe George, 2019. "Optimal replacement policies for a system based on a one-cycle criterion," Reliability Engineering and System Safety, Elsevier, vol. 191(C).
    4. T F Lipi & J-H Lim & M J Zuo & W Wang, 2012. "A condition- and age-based replacement model using delay time modelling," Journal of Risk and Reliability, , vol. 226(2), pages 221-233, April.
    5. Wu, Shaomin & Coolen, Frank P.A., 2013. "A cost-based importance measure for system components: An extension of the Birnbaum importance," European Journal of Operational Research, Elsevier, vol. 225(1), pages 189-195.
    6. Zheng, Junjun & Okamura, Hiroyuki & Dohi, Tadashi, 2021. "Age replacement with Markovian opportunity process," Reliability Engineering and System Safety, Elsevier, vol. 216(C).
    7. D Venkat & F P A Coolen & P Coolen-Schrijner, 2010. "Extended opportunity-based age replacement with a one-cycle criterion," Journal of Risk and Reliability, , vol. 224(1), pages 55-62, March.
    8. Coolen-Schrijner, P. & Coolen, F.P.A., 2007. "Nonparametric adaptive age replacement with a one-cycle criterion," Reliability Engineering and System Safety, Elsevier, vol. 92(1), pages 74-84.
    9. de Jonge, Bram & Dijkstra, Arjan S. & Romeijnders, Ward, 2015. "Cost benefits of postponing time-based maintenance under lifetime distribution uncertainty," Reliability Engineering and System Safety, Elsevier, vol. 140(C), pages 15-21.
    10. V. J. Roelofs & F. P. A. Coolen & A. D. M. Hart, 2011. "Nonparametric Predictive Inference for Exposure Assessment," Risk Analysis, John Wiley & Sons, vol. 31(2), pages 218-227, February.
    11. Zhao, Xufeng & Al-Khalifa, Khalifa N. & Magid Hamouda, Abdel & Nakagawa, Toshio, 2017. "Age replacement models: A summary with new perspectives and methods," Reliability Engineering and System Safety, Elsevier, vol. 161(C), pages 95-105.
    12. P Coolen-Schrijner & F P A Coolen & I M MacPhee, 2008. "Nonparametric predictive inference for system reliability with redundancy allocation," Journal of Risk and Reliability, , vol. 222(4), pages 463-476, December.
    13. P Coolen-Schrijner & F. P. A. Coolen, 2006. "On Optimality Criteria for Age Replacement," Journal of Risk and Reliability, , vol. 220(1), pages 21-29, June.
    14. Frank PA Coolen & Tahani Coolen-Maturi & Abdullah H Al-nefaiee, 2014. "Nonparametric predictive inference for system reliability using the survival signature," Journal of Risk and Reliability, , vol. 228(5), pages 437-448, October.
    15. Li, Dongmin & Hu, Qingpei & Wang, Lujia & Yu, Dan, 2019. "Statistical inference for Mt/G/Infinity queueing systems under incomplete observations," European Journal of Operational Research, Elsevier, vol. 279(3), pages 882-901.
    16. Walter, Gero & Flapper, Simme Douwe, 2017. "Condition-based maintenance for complex systems based on current component status and Bayesian updating of component reliability," Reliability Engineering and System Safety, Elsevier, vol. 168(C), pages 227-239.
    17. Truong Ba, H. & Cholette, M.E. & Borghesani, P. & Zhou, Y. & Ma, L., 2017. "Opportunistic maintenance considering non-homogenous opportunity arrivals and stochastic opportunity durations," Reliability Engineering and System Safety, Elsevier, vol. 160(C), pages 151-161.
    18. P Coolen-Schrijner & F P A Coolen, 2004. "Adaptive age replacement strategies based on nonparametric predictive inference," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 55(12), pages 1281-1297, December.
    19. de Jonge, Bram & Scarf, Philip A., 2020. "A review on maintenance optimization," European Journal of Operational Research, Elsevier, vol. 285(3), pages 805-824.
    20. Rebecca M. Baker & Tahani Coolen-Maturi & Frank P. A. Coolen, 2017. "Nonparametric predictive inference for stock returns," Journal of Applied Statistics, Taylor & Francis Journals, vol. 44(8), pages 1333-1349, June.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:jorsoc:v:60:y:2009:i:10:d:10.1057_jors.2008.99. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave-journals.com/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.