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Optimal order-replacement policy for a deteriorating system based on delayed geometric process. (Chinese. English summary) Zbl 1340.90002
Summary: An order-replacement model is developed for a repairable deteriorating system. The policy \(N\) is adopted where the system would be replaced after the \(N\)th failure and the spare system is ordered at the end of the \((N-1)\)th failure. The deterioration process of the system is modeled by the delayed geometric process. The long-run average availability and the average cost rate are derived by using the renewal reward theory. The optimal policy is obtained under the premise of meeting the availability requirement. Finally, a numerical example is given to illustrate the proposed model.
MSC:
90B05 Inventory, storage, reservoirs
90B25 Reliability, availability, maintenance, inspection in operations research
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