Optimal replacement of a system with markov-modulated degradation

M. Yasin Ulukus; Jeffrey P. Kharoufeh; Lisa M. Maillart

Optimal replacement of a system with markov-modulated degradation

M. Yasin Ulukus, Jeffrey P. Kharoufeh, Lisa M. Maillart

Univ. of Pittsburgh

Research output: Contribution to conference › Paper › peer-review

Abstract

We examine the problem of optimally maintaining a stochastically degrading system using preventive replacements. The system's rate of degradation is governed by an external environment, and the system fails once its cumulative degradation level reaches a fixed threshold. The objective is to minimize the total expected discounted cost of preventive and emergency replacements. To this end, we provide a Markov decision process model and present preliminary structural and numerical results.

Original language	English
Publication status	Published - 2010
Externally published	Yes
Event	IIE Annual Conference and Expo 2010 - Cancun, Mexico Duration: 5 Jun 2010 → 9 Jun 2010

Conference

Conference	IIE Annual Conference and Expo 2010
Country/Territory	Mexico
City	Cancun
Period	5/06/10 → 9/06/10

Keywords

Degradation
Markov decision process
Replacement

Cite this

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title = "Optimal replacement of a system with markov-modulated degradation",

abstract = "We examine the problem of optimally maintaining a stochastically degrading system using preventive replacements. The system's rate of degradation is governed by an external environment, and the system fails once its cumulative degradation level reaches a fixed threshold. The objective is to minimize the total expected discounted cost of preventive and emergency replacements. To this end, we provide a Markov decision process model and present preliminary structural and numerical results.",

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AU - Ulukus, M. Yasin

AU - Kharoufeh, Jeffrey P.

AU - Maillart, Lisa M.

PY - 2010

Y1 - 2010

N2 - We examine the problem of optimally maintaining a stochastically degrading system using preventive replacements. The system's rate of degradation is governed by an external environment, and the system fails once its cumulative degradation level reaches a fixed threshold. The objective is to minimize the total expected discounted cost of preventive and emergency replacements. To this end, we provide a Markov decision process model and present preliminary structural and numerical results.

AB - We examine the problem of optimally maintaining a stochastically degrading system using preventive replacements. The system's rate of degradation is governed by an external environment, and the system fails once its cumulative degradation level reaches a fixed threshold. The objective is to minimize the total expected discounted cost of preventive and emergency replacements. To this end, we provide a Markov decision process model and present preliminary structural and numerical results.

KW - Degradation

KW - Markov decision process

KW - Replacement

UR - http://www.scopus.com/inward/record.url?scp=84901044750&partnerID=8YFLogxK

M3 - Paper

AN - SCOPUS:84901044750

T2 - IIE Annual Conference and Expo 2010

Y2 - 5 June 2010 through 9 June 2010

ER -

Optimal replacement of a system with markov-modulated degradation

Abstract

Conference

Keywords

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Cite this