RANDOM AND AGE REPLACEMENT POLICIES

This paper proposes a random and age replacement policy for an operating unit which works at random times. First, the unit is replaced before failure at a planned time T or at the completion of a working time, whichever occurs first. The expected cost rate is obtained. Next, as one extended model, the unit is replaced before failure at a number N of working times or at a planned time T. An optimal policy which minimizes the expected cost rate is discussed analytically, and its numerical example is given. Two modified models, where the unit is replaced at the first completion of the working time over time T or at number N, and it is replaced at time T or number N, whichever occurs last, are considered. Furthermore, we show that this corresponds to a cumulative damage model by replacing shock with work. Finally, one optimization problem of how much time to preset for scheduling the completion of N works is proposed.