... these assumptions, a replacement policy based on the effective age of the system is applied. The long-run expected downtime per unit time and the long-run expected profit per unit time as objective functions are chosen, respectively. By using geometric process theory and renewal process theory, the mathematic...

...Li‐Rong Cui; Yu Hayakawa; Yeh Lam Purpose The purpose of this paper is to study a geometric process (GP) maintenance model and policy for a repairable system. Design/methodology/approach Lam first introduced the GP and its application to maintenance model. Assume that a replacement policy...