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Optimal Inspection Policies to Minimize Expected Cost Rates

Satoshi Mizutani

https://orcid.org/0000-0001-8982-7407

Department of Business Administration, Aichi Institute of Technology, Toyota 470-0392, Japan

E-mail Address: mztn@aitech.ac.jp

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Xufeng Zhao

College of Economics and Management, Nanjing University of Aeronautics and Astronautics, Nanjing 211106, P. R. China

E-mail Address: zx.peak@outlook.com

Corresponding author.

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Toshio Nakagawa

Department of Business Administration, Aichi Institute of Technology, Toyota 470-0392, Japan

E-mail Address: toshi-nakagawa@aitech.ac.jp

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https://doi.org/10.1142/S0218539322500012Cited by:4 (Source: Crossref)

Abstract

In this paper, we propose a computing algorithm to obtain optimal checking times which minimize the expected cost rate of sequential inspection models. This algorithm is applied to two modified inspection models with finite intervals such that the unit is checked at times $T_{k}$ ( $k = 1, 2, \dots, N$ ) for given $N$ and given $S \equiv T_{N}$ . The modified algorithms are proposed and optimal checking times to minimize the expected cost rates are obtained. Numerical examples of each model are given to show how to use the algorithm. This method would be applied to other sequential inspection models by its suitable modifications.

Keywords:

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