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Optimal replacement policy for a series system with obsolescence

Optimal replacement policy for a series system with obsolescence Most maintenance policies assume that failed or used components are replaced with identical units. Actually, such a hypothesis neglects the possible obsolescence of the components. When a new, more reliable and less consuming technology becomes available, a decision has to be made as for the replacement strategy to be used: old‐type components can all be immediately replaced, or new‐type units can be introduced progressively, each time a corrective action is undertaken. Partly corrective, partly preventive policies can also be envisioned. This work tackles this issue in the case of a series system made of n identical and independent components with a constant failure rate. It provides, under given modelling assumptions, the fully analytical expression of the mean total cost induced by each possible strategy, as well as the optimal replacement policy, as a function of the problem parameters. This is performed by accounting for different costs for preventive or corrective replacements, with some economical dependence between replacements, different energy consumption rates for old‐type and new‐type components as well as a discount rate. Copyright © 2004 John Wiley & Sons, Ltd. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Applied Stochastic Models in Business and Industry Wiley

Optimal replacement policy for a series system with obsolescence

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References (7)

Publisher
Wiley
Copyright
Copyright © 2004 John Wiley & Sons, Ltd.
ISSN
1524-1904
eISSN
1526-4025
DOI
10.1002/asmb.516
Publisher site
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Abstract

Most maintenance policies assume that failed or used components are replaced with identical units. Actually, such a hypothesis neglects the possible obsolescence of the components. When a new, more reliable and less consuming technology becomes available, a decision has to be made as for the replacement strategy to be used: old‐type components can all be immediately replaced, or new‐type units can be introduced progressively, each time a corrective action is undertaken. Partly corrective, partly preventive policies can also be envisioned. This work tackles this issue in the case of a series system made of n identical and independent components with a constant failure rate. It provides, under given modelling assumptions, the fully analytical expression of the mean total cost induced by each possible strategy, as well as the optimal replacement policy, as a function of the problem parameters. This is performed by accounting for different costs for preventive or corrective replacements, with some economical dependence between replacements, different energy consumption rates for old‐type and new‐type components as well as a discount rate. Copyright © 2004 John Wiley & Sons, Ltd.

Journal

Applied Stochastic Models in Business and Industry – Wiley

Published: Jan 1, 2004

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