1 research outputs found
Optimal Replacement Policy under Cumulative Damage Model and Strength Degradation with Applications
In many real-life scenarios, system failure depends on dynamic
stress-strength interference, where strength degrades and stress accumulates
concurrently over time. In this paper, we consider the problem of finding an
optimal replacement strategy that balances the cost of replacement with the
cost of failure and results in a minimum expected cost per unit time under
cumulative damage model with strength degradation. The existing recommendations
are applicable only under restricted distributional assumptions and/or with
fixed strength. As theoretical evaluation of the expected cost per unit time
turns out to be very complicated, a simulation-based algorithm is proposed to
evaluate the expected cost rate and find the optimal replacement strategy. The
proposed method is easy to implement having wider domain of application. For
illustration, the proposed method is applied to real case studies on mailbox
and cell-phone battery experiments