• OPTIMAL REPLACEMENT POLICY FOR A DETERIORATING SYSTEM OF INCREASING REPAIR TIMES WITH VARYING COST STRUCTURES

GOVINDARAJU. P, SURESH KUMAR.N

Abstract


In this paper, the maintenance problem of a repairable deteriorating System subject to random shocks with varying cost structures is studied. An Explicit expression for the long run average cost per unit time under policy N is derived and an optimal policy N* for minimizing the long run average cost per unit time is determined analytically.


Keywords


GEOMETRIC PROCESS, REPLACEMENT POLICY, RENEWAL REWARD PROCESS, STOCHASTIC ORDERS.

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