On a random lead time and threshold shock model using phase‐type geometric processes

On a random lead time and threshold shock model using phase‐type geometric processes This study investigates two random threshold shock models for a repairable deteriorating system with nonnegligible maintenance times, with and without a spare via a phase‐type geometric process. The system fails whenever the intershock arrival time is less than a random threshold. The provision of stochastic lead time is incorporated in Model II so that an ordering policy N−1 and a replacement policy N based on the number of failures of the system are also considered. An explicit expression of the average cost rate is derived for both models and the optimal replacement policy N* is obtained by minimizing the long‐run average cost rate analytically. The numerical illustrations and sensitivity analysis provided therein conform to the observations made in the study. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Applied Stochastic Models in Business and Industry Wiley

On a random lead time and threshold shock model using phase‐type geometric processes

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Publisher
Wiley
Copyright
Copyright © 2018 John Wiley & Sons, Ltd.
ISSN
1524-1904
eISSN
1526-4025
D.O.I.
10.1002/asmb.2308
Publisher site
See Article on Publisher Site

Abstract

This study investigates two random threshold shock models for a repairable deteriorating system with nonnegligible maintenance times, with and without a spare via a phase‐type geometric process. The system fails whenever the intershock arrival time is less than a random threshold. The provision of stochastic lead time is incorporated in Model II so that an ordering policy N−1 and a replacement policy N based on the number of failures of the system are also considered. An explicit expression of the average cost rate is derived for both models and the optimal replacement policy N* is obtained by minimizing the long‐run average cost rate analytically. The numerical illustrations and sensitivity analysis provided therein conform to the observations made in the study.

Journal

Applied Stochastic Models in Business and IndustryWiley

Published: Jan 1, 2018

Keywords: ; ;

References

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