Monotone optimal replacement policies for a Markovian deteriorating system in a controllable environment

Authors:
Murat Kurt;Jeffrey P. Kharoufeh
Affiliations:
Department of Industrial Engineering, University of Pittsburgh, 1048 Benedum Hall, 3700 O'Hara Street, Pittsburgh, PA 15261, USA;Department of Industrial Engineering, University of Pittsburgh, 1048 Benedum Hall, 3700 O'Hara Street, Pittsburgh, PA 15261, USA
Venue:
Operations Research Letters
Year:
2010

Citing 5
Cited 1

Markov Decision Processes: Discrete Stochastic Dynamic Programming

Markov Decision Processes: Discrete Stochastic Dynamic Programming
The Optimal Timing of Living-Donor Liver Transplantation

Management Science
Approximate Dynamic Programming: Solving the Curses of Dimensionality (Wiley Series in Probability and Statistics)

Approximate Dynamic Programming: Solving the Curses of Dimensionality (Wiley Series in Probability and Statistics)
Structured replacement policies for a Markov-modulated shock model

Operations Research Letters
Explicit results for wear processes in a Markovian environment

Operations Research Letters

Optimal maintenance policies for systems subject to a Markovian operating environment

Computers and Industrial Engineering

Quantified Score

Hi-index	0.00

Visualization

Abstract

We consider the optimal replacement of a periodically inspected system under Markov deterioration that operates in a controlled environment. Provided are sufficient conditions that characterize an optimal control-limit replacement policy with respect to the system's condition and its environment. The structure of the optimal policy is illustrated by a numerical example.