Replacement decisions with maintenance under uncertainty: an imbedded optimal control model
Date
2004
Authors
Dogramaci, A.
Fraiman, N. M.
Editor(s)
Advisor
Supervisor
Co-Advisor
Co-Supervisor
Instructor
Source Title
Operations Research
Print ISSN
0030-364X
Electronic ISSN
1526-5463
Publisher
Institute for Operations Research and the Management Sciences (I N F O R M S)
Volume
52
Issue
5
Pages
785 - 794
Language
English
Type
Journal Title
Journal ISSN
Volume Title
Series
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.