An Optimal Inspection and Replacement Policy
Authors:
- 1 December 1975
- journal article
- Published by Institute of Electrical and Electronics Engineers (IEEE) in IEEE Transactions on Reliability
- Vol. R-24 (5) , 305-309
Abstract
An optimal inspection and replacement policy is discussed for a unit which assumes any one of several Markov states. The policy evaluation function is the s-expected cost-per-unit-time over an infinite time span. The problem is formulated as a semi-Markov decision process with a modified policy-improvement routine. Some properties of the optimal policy are discussed, for example, the control limit rule holds and the inspection time interval becomes shorter as degradation progresses.Keywords
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