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Quantifying the risk in age and block replacement policies / B. C. Giri in Journal of the operational research society (JORS), Vol. 61 N° 7 (Juillet 2010) 

Public ISBD [article]  in Journal of the operational research society (JORS) > Vol. 61 N° 7 (Juillet 2010) . - pp. 1151–1158 Titre : Quantifying the risk in age and block replacement policies Type de document : texte imprimé Auteurs : B. C. Giri, Auteur ; T. Dohi, Auteur Année de publication : 2011 Article en page(s) : pp. 1151–1158 Note générale : Recherche opérationnelle Langues : Anglais (eng) Mots-clés : Preventive  maintenance  Risk  Age  Block  replacement  policies Index. décimale : 001.424 Résumé : Preventive maintenance policies have been studied in the literature without considering the risk due to the cost variability. In this paper, we consider the two most popular preventive replacement policies, namely, age and block replacement policies under long-run average cost and expected unit time cost criteria. To quantify the risk in the preventive maintenance policies, we use the long-run variance of the accumulated cost over a time interval. We numerically derive the Risk-sensitive preventive replacement policies and study the impact of the Risk-sensitive optimality criterion on the managerial decisions. We also examine the performance of the expected unit time cost criterion as an alternative to the traditional long-run average cost criterion. DEWEY : 001.424 ISSN : 0361-5682 En ligne : http://www.palgrave-journals.com/jors/journal/v61/n7/abs/jors200940a.html [article] Quantifying the risk in age and block replacement policies [texte imprimé] / B. C. Giri, Auteur ; T. Dohi, Auteur . - 2011 . - pp. 1151–1158. Recherche opérationnelle Langues : Anglais (eng) in Journal of the operational research society (JORS) > Vol. 61 N° 7 (Juillet 2010) . - pp. 1151–1158 Mots-clés : Preventive  maintenance  Risk  Age  Block  replacement  policies Index. décimale : 001.424 Résumé : Preventive maintenance policies have been studied in the literature without considering the risk due to the cost variability. In this paper, we consider the two most popular preventive replacement policies, namely, age and block replacement policies under long-run average cost and expected unit time cost criteria. To quantify the risk in the preventive maintenance policies, we use the long-run variance of the accumulated cost over a time interval. We numerically derive the Risk-sensitive preventive replacement policies and study the impact of the Risk-sensitive optimality criterion on the managerial decisions. We also examine the performance of the expected unit time cost criterion as an alternative to the traditional long-run average cost criterion. DEWEY : 001.424 ISSN : 0361-5682 En ligne : http://www.palgrave-journals.com/jors/journal/v61/n7/abs/jors200940a.html