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Optimal replacement in a system of \(n\)-machines with random horizon. (English) Zbl 1262.90050

Summary: This paper considers a system consisting of independently operating n-machines, which follows a deterioration processes with an associated cost function. It is assumed that the system is observed at discrete time and the objective function is the total expected cost. Also, it is considered that the horizon of the problem is random. For this problem, a replacement optimal policy that minimize the operation cost of the system is provided. Besides, a numerical example through a program in Matlab is presented.

MSC:

90B25 Reliability, availability, maintenance, inspection in operations research
90C39 Dynamic programming
90C40 Markov and semi-Markov decision processes

Software:

Matlab
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