TY - JOUR ID - 4051 TI - A Multi-Stage Single-Machine Replacement Strategy Using Stochastic Dynamic Programming JO - Journal of Industrial and Systems Engineering JA - JISE LA - en SN - 1735-8272 AU - Fallah Nezhad, Mohammad Saber AU - Akhavan Niaki, Seyed Taghi AU - Sadegheih, Ahmad AD - Industrial Engineering Department, Yazd University, Yazd, Iran AD - Industrial Engineering Department, Sharif university of Technology, P.O. Box 11155-9414, Tehran, Iran Y1 - 2012 PY - 2012 VL - 5 IS - 4 SP - 198 EP - 207 KW - Machine Replacement Policy KW - Control Threshold Policy KW - Exponential Distribution KW - Stochastic dynamic programming DO - N2 - In this paper, the single machine replacement problem is being modeled into the frameworks of stochastic dynamic programming and control threshold policy, where some properties of the optimal values of the control thresholds are derived. Using these properties and by minimizing a cost function, the optimal values of two control thresholds for the time between productions of two successive nonconforming products is determined. If this time exceeds the first threshold, the production continues. If it is less than the second one, inspection, repair, or replacement occur. However, if it falls within the control thresholds, then the process of sampling continues. At the end, the application of the proposed methodology is demonstrated using a numerical illustration. UR - https://www.jise.ir/article_4051.html L1 - https://www.jise.ir/article_4051_a3d15550157ca3ddd1fcdc8e2826c517.pdf ER -