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Journal of the Korea Institute of Military Science and Technology 2001;4(1):170-176.
Optimum Replacement Intervals Considering Salvage Values In Random Time Horizon
Chung-Hyeon Park, Dong-Hoon Lee
Agency for Defense Development
확률 시평에서 잔존가치를 고려한 최적의 교체 주기
,
국방과학연구소
Abstract
An optimization problem to obtain the optimal replacement interval considering the salvage values is studied. The system is minimally repaired at failure and is replaced by new one at age T(periodic replacement policy with minimal repair of Barlow and Hunter〔2〕). Our model assumes that the time horizon associated with the number of replacements is random The total expected cost considering the salvage values with random time horizon is obtained and the optimal replacement interval minimizing the cost is found by numerical methods. Comparisons between non-considered salvage values and this case are made by a numerical example.
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