Minimum Cost Replacement Under Markovian Deterioration

Conditions are derived under which optimal replacement rules for systems subject to Markovian deterioration and failure are given by control limit replacement rules. An efficient method of deriving such rules is given which is based on the simplex algorithm.

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Year of publication:	1966
Authors:	Kolesar, Peter
Published in:	Management Science. - Institute for Operations Research and the Management Sciences - INFORMS, ISSN 0025-1909. - Vol. 12.1966, 9, p. 694-706
Publisher:	Institute for Operations Research and the Management Sciences - INFORMS

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Extent:	application/pdf
Type of publication:	Article
Other identifiers:	10.1287/mnsc.12.9.694 [DOI]
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10009196879