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Article: On the Use of Renewal Theory in Machine Replacement Models

TitleOn the Use of Renewal Theory in Machine Replacement Models
Authors
KeywordsRenewal Theory
Machine Replacement
Average Running Cost
Issue Date2005
PublisherResearch India Publications. The Journal's web site is located at http://www.ripublication.com/jams.htm
Citation
International Journal of Applied Mathematical Sciences, 2005, v. 2 n. 2, p. 240-247 How to Cite?
AbstractIn this paper, we give examples on how the renewal theory can be applied in modeling machine replacement problem. We begin with a deterministic model to illustrate the concept of a machine cycle, then follow by a stochastic model with a general cost. We then compare two popular replacement policies: the quantitybased replacement policy and time-based replacement policy for a single machine replacement problem. We also prove an interesting result that the optimal costs of both policies are the same under certain assumptions.
Persistent Identifierhttp://hdl.handle.net/10722/75138
ISSN

 

DC FieldValueLanguage
dc.contributor.authorTai, AHen_HK
dc.contributor.authorChing, WKen_HK
dc.date.accessioned2010-09-06T07:08:17Z-
dc.date.available2010-09-06T07:08:17Z-
dc.date.issued2005en_HK
dc.identifier.citationInternational Journal of Applied Mathematical Sciences, 2005, v. 2 n. 2, p. 240-247en_HK
dc.identifier.issn0973-0176-
dc.identifier.urihttp://hdl.handle.net/10722/75138-
dc.description.abstractIn this paper, we give examples on how the renewal theory can be applied in modeling machine replacement problem. We begin with a deterministic model to illustrate the concept of a machine cycle, then follow by a stochastic model with a general cost. We then compare two popular replacement policies: the quantitybased replacement policy and time-based replacement policy for a single machine replacement problem. We also prove an interesting result that the optimal costs of both policies are the same under certain assumptions.-
dc.languageengen_HK
dc.publisherResearch India Publications. The Journal's web site is located at http://www.ripublication.com/jams.htm-
dc.relation.ispartofInternational Journal of Applied Mathematical Sciencesen_HK
dc.subjectRenewal Theory-
dc.subjectMachine Replacement-
dc.subjectAverage Running Cost-
dc.titleOn the Use of Renewal Theory in Machine Replacement Modelsen_HK
dc.typeArticleen_HK
dc.identifier.emailTai, AH: allenhtai@graduate.hku.hken_HK
dc.identifier.emailChing, WK: wching@hkucc.hku.hken_HK
dc.identifier.authorityChing, WK=rp00679en_HK
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.hkuros116522en_HK
dc.identifier.volume2-
dc.identifier.issue2-
dc.identifier.spage240-
dc.identifier.epage247-
dc.publisher.placeIndia-

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