Bivariate Optimal Replacement Policy for a Deteriorating Repairable System Using Arithemetico- Geometric Process (AGP)

Dr. B. Venkata Ramudu; P.Adisekhara Reddy

Volume : VIII, Issue : V, May - 2019

Bivariate Optimal Replacement Policy for a Deteriorating Repairable System Using Arithemetico- Geometric Process (AGP)

Dr. B. Venkata Ramudu, P. Adisekhara Reddy

Abstract :

This paper studies an optimal bivariate replacement policy for a deteriorating repairable system by assuming that the successive operating times of the system form – a decreasing Arithmetico–Geometric Process (AGP) while the successive repair times of the system form – an increasing AGP. Under these assumptions we study an optimal replacement policy (T N) for a cold standby repairable system under which we replace the system when the operating time of component 1 reaches T and the number of repairs of component 1 reaches N whichever occurs first. Under some conditions, an explicit expression C(N) for the long run average cost per unit time of the system is derived and determined corresponding optimal replacement N* such that the long run average cost is minimum. Finally numerical results are provided to highlight the theoretical results.