A discounted model for a repairable system with continuous state space

P.B. Bruns

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    Abstract

    We examine repairable systems with a continous state space and partial repair options, carried out at fixed times $n=1,2,...$. Every time interval $[n,n+1)$ there is a manufacturing cost and a repair cost. These cost functions are not restricted to the class of bounded functions in this study. Conditions are found under which a control-limit replacement policy minimizes the discounted cost. Hence these conditions guarantee that there is an optimal policy under the discounted cost criterion which does not use partial repairs. We explicitly explain how to derive this optimal policy.
    Original languageUndefined
    Place of PublicationEnschede
    PublisherUniversity of Twente, Department of Applied Mathematics
    Publication statusPublished - 2000

    Publication series

    Name
    PublisherDepartment of Applied Mathematics, University of Twente
    No.1550
    ISSN (Print)0169-2690

    Keywords

    • EWI-3370
    • MSC-90B25
    • MSC-93E20
    • IR-65737

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