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A general inspection and opportunistic replacement policy for one-component systems of variable quality

Cavalcante, C. A. V., Lopes, R. S. and Scarf, P. A. 2018. A general inspection and opportunistic replacement policy for one-component systems of variable quality. European Journal of Operational Research 266 (3) , pp. 911-919. 10.1016/j.ejor.2017.10.032

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Abstract

We model the influence of opportunities in a hybrid inspection and replacement policy. The base policy has two phases: an initial inspection phase in which the system is replaced if found defective; and a later wear-out phase that terminates with replacement and during which there is no inspection. The efficacy of inspection is modelled using the delay time concept. Onto this base model, we introduce events that arise at random and offer opportunities for cost-efficient replacement, and we investigate the efficacy of additional opportunistic replacements within the policy. Furthermore, replacements are considered to be heterogeneous and of variable quality. This is a natural policy for heterogeneous systems. Our analysis suggests that a policy extension that allows opportunities to be utilised offers benefit, in terms of cost-efficiency. This benefit is significant compared to those offered by age-based inspection or preventive replacement. In addition, opportunistic replacement may simplify maintenance planning.

Item Type: Article
Date Type: Publication
Status: Published
Schools: Business (Including Economics)
Publisher: Elsevier
ISSN: 0377-2217
Date of First Compliant Deposit: 7 December 2020
Date of Acceptance: 12 October 2017
Last Modified: 20 Jan 2021 16:19
URI: https://orca.cardiff.ac.uk/id/eprint/136862

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