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Repair-Time Limit Replacement Policies

In: Stochastic Reliability and Maintenance Modeling

Author

Listed:
  • Won Young Yun

    (Pusan National University)

  • Naoto Kaio

    (Hiroshima Shudo University)

Abstract

This article concerns repair-limit replacement problems and review the existing stochastic models in which repair times are random variables. If a system fails, we should decide whether we repair the failed system (repair option) or replace it by new one (replacement option with a lead time). We classify the existing repair-time limit models based on available information amount of repair times (perfect, partial, and no information), repair type (perfect and imperfect repair), and objective functions (expected cost and profit with and without discounting). We summarize the modeling assumptions and explain how to obtain the optimal repair-limit replacement policies. Finally, we propose some interesting topics for future studies.

Suggested Citation

  • Won Young Yun & Naoto Kaio, 2013. "Repair-Time Limit Replacement Policies," Springer Series in Reliability Engineering, in: Tadashi Dohi & Toshio Nakagawa (ed.), Stochastic Reliability and Maintenance Modeling, edition 127, pages 101-121, Springer.
    • Handle: RePEc:spr:ssrchp:978-1-4471-4971-2_5
    DOI: 10.1007/978-1-4471-4971-2_5
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