Minimum Cost Replacement Under Markovian Deterioration

Peter Kolesar
Peter Kolesar
Columbia University
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Columbia University

Published Online:1 May 1966https://doi.org/10.1287/mnsc.12.9.694

Abstract

Conditions are derived under which optimal replacement rules for systems subject to Markovian deterioration and failure are given by control limit replacement rules. An efficient method of deriving such rules is given which is based on the simplex algorithm.

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Volume 12, Issue 9

May 1966

Pages 627-744

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Published Online:May 01, 1966

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Peter Kolesar, (1966) Minimum Cost Replacement Under Markovian Deterioration. Management Science 12(9):694-706.

https://doi.org/10.1287/mnsc.12.9.694

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Minimum Cost Replacement Under Markovian Deterioration

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Volume 12, Issue 9

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