Optimizations of Replacement Policies for Random -out-of- Systems
Abstract
In this paper, a random repairable -out-of- system is studied when random replacement policies are performed, where is a stochastic parameter. It is replaced before failure at a planned time or at random working cycle , whichever occurs last or first. Furthermore, optimal replacement policies are obtained for the extended models with working numbers. This paper aims to find the optimal replacement policies when replacement first and last policies are performed. Expected cost rates for the first and last replacement policies are derived, and their optimal replacement policies are derived analytically. Numerical examples are given to illustrate the theoretical results.