Optimal systems for equipment maintenance and replacement under Markovian deterioration

Bobos, AG; Protonotarios, EN

dc.contributor.author	Bobos, AG	en
dc.contributor.author	Protonotarios, EN	en
dc.date.accessioned	2014-03-01T01:05:42Z
dc.date.available	2014-03-01T01:05:42Z
dc.date.issued	1978	en
dc.identifier.issn	0377-2217	en
dc.identifier.uri	https://dspace.lib.ntua.gr/xmlui/handle/123456789/8941
dc.relation.uri	http://www.scopus.com/inward/record.url?eid=2-s2.0-0017995302&partnerID=40&md5=80a13e6229c8173e7c579e5683da1a5b	en
dc.subject.classification	Management	en
dc.subject.classification	Operations Research & Management Science	en
dc.subject.other	MAINTENANCE	en
dc.title	Optimal systems for equipment maintenance and replacement under Markovian deterioration	en
heal.type	journalArticle	en
heal.language	English	en
heal.publicationDate	1978	en
heal.abstract	Deterioration of equipment is modeled as a multistate discrete time controlled Markov process. The states are classified according to the degree of deterioration. The problem of design of optimal systems for equipment maintenance and replacement is considered when the decision-maker may take, in each stage, one of many available maintenance actions, classified according to their ""stochastic effectiveness""; no action and replacement are included as alternatives. It is assumed that the transition probabilities satisfy two conditions which effectively describe a trend for monotonically increasing expected deterioration and rate of deterioration. Under these assumptions it is proved in the paper that the optimal (cost minimizing) decision system in an infinite horizon is of the control limit rule type, rapidly obtained by policy improvement algorithms. A numerical example is presented for a specific practical application; detailed data are available from the authors on request. © 1978.	en
heal.publisher	ELSEVIER SCIENCE BV	en
heal.journalName	European Journal of Operational Research	en
dc.identifier.isi	ISI:A1978FK81600004	en
dc.identifier.volume	2	en
dc.identifier.issue	4	en
dc.identifier.spage	257	en
dc.identifier.epage	264	en