Age Replacement Policies
Published Online: 15 JUN 2010
Copyright © 2010 John Wiley & Sons, Inc. All rights reserved.
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. .
- Published Online: 15 JUN 2010
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.
- age replacement (AR) policy;
- opportunity-based age replacement (OAR);
- multivariate age replacement (MAR) policy;
- multivariate renewal replacement (MRR)