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Optimality of control limit policies in replacement models
Author(s) -
So Kut C.
Publication year - 1992
Publication title -
naval research logistics (nrl)
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.665
H-Index - 68
eISSN - 1520-6750
pISSN - 0894-069X
DOI - 10.1002/1520-6750(199208)39:5<685::aid-nav3220390507>3.0.co;2-r
Subject(s) - limit (mathematics) , control limits , parametric statistics , control (management) , work (physics) , class (philosophy) , computer science , mathematical optimization , optimal control , mathematical economics , operations research , economics , mathematics , statistics , engineering , artificial intelligence , mathematical analysis , process (computing) , control chart , operating system , mechanical engineering
We study a class of replacement models for systems subject to deterioration. The objective is to determine an optimal replacement policy that minimizes the average operating costs of the system. We use a parametric analysis to establish sufficient conditions for the optimality of control limit policies. This work generalizes several existing results for optimal replacement models in the literature. © 1992 John Wiley & Sons, Inc.