A Combined Block and Repair Limit Replacement Policy

Abstract

This paper considers a combined block and repair limit replacement policy. The policy is defined as follows:

• (i) The unit is replaced preventively at times kT(k=1, 2…

• (ii) For failures in [(k - 1)T, kT) the unit undergoes minimal repair if the estimated repair cost is less than x. Otherwise it is replaced by a new one.

The optimal policy is to select T* and x* to minimize the expected cost per unit time for an infinite time span. A numerical example is given to illustrate the method.