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Version 2 2025-05-05, 10:27
Version 1 2025-05-02, 13:57
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posted on 2025-05-05, 10:27 authored by Yunxia HanYunxia Han, Man Zhang, Qin Zhang

For mission-oriented systems designed for long-term operation, this study incorporates the time-varying value of money into the analysis. Unlike traditional maintenance strategies, the study introduces a new approach to periodic replacement policies. This approach considers variable costs and aims to improve system performance and reliability. The first step integrates the discount rate into basic periodic replacement policies. Next, the study addresses the first and last replacements to balance maintenance simplicity with economic efficiency. Numerical examples are provided for each replacement scenario, demonstrating the practical applicability and effectiveness of the proposed strategies. These examples yield valuable insights that can guide engineers in managing scheduled replacement strategies for systems designed for specific missions throughout their extended operational lifetimes.

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