On a Discounted Replacement Problem with Arbitrary Repair Time Distribution.
FLORIDA UNIV GAINESVILLE DEPT OF INDUSTRIAL AND SYSTEMS ENGINEERING
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The functional equation technique is applied to obtain explicit expressions for the long term total expected discounted cost in replacement problems incorporating the downtime effect associated with the repair state of the failed component. Necessary and sufficient conditions for an optimal replacement policy are obtained and some asymptotic results are derived. Author
- Administration and Management
- Operations Research