Repair-Time Limit Replacement Policies

Chapter
Part of the Springer Series in Reliability Engineering book series (RELIABILITY, volume 9)

Abstract

This article concerns repair-limit replacement problems and review the existing stochastic models in which repair times are random variables. If a system fails, we should decide whether we repair the failed system (repair option) or replace it by new one (replacement option with a lead time). We classify the existing repair-time limit models based on available information amount of repair times (perfect, partial, and no information), repair type (perfect and imperfect repair), and objective functions (expected cost and profit with and without discounting). We summarize the modeling assumptions and explain how to obtain the optimal repair-limit replacement policies. Finally, we propose some interesting topics for future studies.

Keywords

Repair Repair-time limit Replacement Cost and profit rate Lead time 

Notes

Acknowledgments

This research was supported by Basic Science Research Program through the National Research Foundation of Korea (NRF) funded by the Ministry of Education, Science and Technology (No.2010-0025084). The authors are grateful to Professor S. Osaki who stimulated their interest in maintenance optimization area through many papers and edited books in reliability and maintenance.

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Copyright information

© Springer-Verlag London 2013

Authors and Affiliations

  1. 1.Department of Industrial EngineeringPusan National UniversityKumjeong-Ku, BusanKorea
  2. 2.Department of Economic InformaticsHiroshima Shudo UniversityAsaminami-ku, HiroshimaJapan

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