Overtime Replacement Policies with Finite Operating Interval and Number

Abstract

The main purpose of this paper is to propose overtime replacement policies for the system which has a finite life cycle. The newly proposed overtime technique, where the system is replaced preventively at the first completion of some working cycle over a planned time T, is employed into modelings to avoid operational interruptions for successive jobs. We consider two overtime replacement model with finite operating interval which S is given as (i) constant interval, and (ii) random interval. The expected replacement costs per unit of time are obtained and their optimal solutions are discussed analytically. Further, numerical examples are given when the failure time has a Weibull distribution and working cycles are exponentially distributed.