Replacement decisions with maintenance under uncertainty: an imbedded optimal control model

Date

2004

Authors

Dogramaci, A.
Fraiman, N. M.

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Abstract

How should a manager make replacement decisions for a chain of machines over time if each is maintained by an optimal control model addressing uncertainty of machine breakdowns? A network representation of the problem involves arcs with interdependent costs. A solution algorithm is presented and replacement considerations under technological change are incorporated into a well-known optimal control model for maintenance under uncertainty (that of Kamien and Schwartz 1971). The method is illustrated by an example.

Source Title

Operations Research

Publisher

Institute for Operations Research and the Management Sciences (I N F O R M S)

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Citation

Published Version (Please cite this version)

Language

English