Multivariate Optimal Replacement Policies for a System subject to Shocks

DOI10.1080/02331939708844333MaRDI QIDQ4346896zbMATH OpenOpenAlexFDO

Authors V. Thangaraj, Revathy Sundararajan

Publication date 18 February 1998

Published in Optimization (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1080/02331939708844333

zbMATH Keywords

optimal policiesreplacement policiessystem subjected to shocks

Mathematics Subject Classification ID

Applications of renewal theory (reliability, demand theory, etc.) (60K10) Other physical applications of random processes (60K40)

Review text

The authors consider a system subjected to shocks inflicted randomly in time. They introduce and study some models of replacement policies based on the number of shocks, on the cumulative (and on the maximum) damage caused due to the shocks, and on the age of the system. For each model they derive the optimal replacement policy based on the long run average cost. Finally they compare the different optimal policies and show that the optimal policies get better as the number of constraints on them increases.

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Cites work

• A bivariate optimal replacement policy for a repairable system
• A note on the optimal replacement problem
• General shock models associated with correlated renewal sequences
• Geometric processes and replacement problem
• Optimum replacement policies for systems subject to shocks

Cited in

(8)

• An optimal state-age dependent replacement for a network system
• On replacement policies for additive systems with several working levels
• Optimum age replacement of a system subject to shocks with random lead time
• A state-age dependent policy for a shock process
• scientific article; zbMATH DE number 3959090 (Why is no real title available?)
• scientific article; zbMATH DE number 4020152 (Why is no real title available?)
• Optimum replacement policies for systems subject to shocks
• Structured replacement policies for a Markov-modulated shock model

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