Standard Article

Age Replacement Policies

  1. Nader Ebrahimi

Published Online: 15 JUN 2010

DOI: 10.1002/9780470400531.eorms0007

Wiley Encyclopedia of Operations Research and Management Science

Wiley Encyclopedia of Operations Research and Management Science

How to Cite

Ebrahimi, N. 2010. Age Replacement Policies. Wiley Encyclopedia of Operations Research and Management Science. .

Author Information

  1. Northern Illinois University, Division of Statistics, DeKalb, Illinois

Publication History

  1. Published Online: 15 JUN 2010

Abstract

Maintenance policies are followed to reduce the incidence of unit failure or to return a failed unit to the operating state. This article concentrates on a particular maintenance policy referred to as an age replacement policy. Under this policy, a unit is replaced upon failure or at a specified age whichever comes first. We develop some of its desirable properties and obtain an optimal age replacement policy. We also define a multivariate version of this policy and give its properties.

Keywords:

  • age replacement (AR) policy;
  • opportunity-based age replacement (OAR);
  • multivariate age replacement (MAR) policy;
  • multivariate renewal replacement (MRR)