Modelling age based replacement decisions considering shocks and failure rate
International Journal of Quality & Reliability Management
ISSN: 0265-671X
Article publication date: 31 December 2015
Abstract
Purpose
The purpose of this paper is to present age-based replacement models subject to shocks and failure rate in order to determine the optimal replacement cycle. As a result, according to system reliability, maintenance costs of the system are to be minimized.
Design/methodology/approach
First, the modeling with respect to assumptions and two major factors (shocks and failure rate) is done. Second, by using of MATLAB the optimal parameters are obtained. Finally, analysis of results and comparison of models are done.
Findings
Analysis of results shows all models provide optimal replacement cycle and at this time, cost rate of the system by considering the reliability rate is minimal. Also with an increase of one unit to two units, reliability rate increases much higher than the rate of cost.
Originality/value
This work provides models that in addition to considering the failure rate (internal factors), also shocks as an external factor have been considered. By considering these two factors more comprehensive and adaptable models have been proposed.
Keywords
Citation
Alem Tabriz, A., Khorshidvand, B. and Ayough, A. (2015), "Modelling age based replacement decisions considering shocks and failure rate", International Journal of Quality & Reliability Management, Vol. 33 No. 1, pp. 107-119. https://doi.org/10.1108/IJQRM-11-2014-0168
Publisher
:Emerald Group Publishing Limited
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