On Minimizing Losses on Components with Sliding Standbys.
CARNEGIE-MELLON UNIV PITTSBURGH PA MANAGEMENT SCIENCES RESEARCH GROUP
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A system is constituted of identical components. Sliding standbys are available for replacing failed components. The loss per unit of time of having a component out of use differs from one component to another. Generally, when a component fails, the optimal policy consists of waiting until a certain time before replacing that component. The optimal policy is computed for different situations 2 components and one standby or n components and one standby. The standbys are considered to be in either a loaded or an unloaded mode. Author
- Operations Research
- Manufacturing and Industrial Engineering and Control of Production Systems