Optimal replacement in a system of n-machines with random horizon

Rocío Ilhuicatzi-Roldan, Hugo Cruz


This paper considers a system consisting of independently operating n-machines, which follows a deterioration processes with an associated cost function. It is assumed that the system is observed at discrete time and the objective function is the total expected cost. Also, it is considered that the horizon of the problem is random. For this problem, a replacement optimal policy that minimize the operation cost of the system is provided. Besides, a numerical example through a program in Matlab is presented.

Palabras clave

Mathematical programming; optimal stochastic control; dynamic programming; Markov decision processes; programación matemática; control estocástico óptimo; programación dinámica; procesos de decisión de Markov.

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DOI: http://dx.doi.org/10.4067/S0716-09172012000300003

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