When a group of identical units are put in service simultaneously, a popular replacement policy is the block replacement policy (BRP). Under the BRP, all units are replaced by new ones at intervals and an individual unit is replaced at failure during the interval. Since many units are replaced during the block replacement interval, adequate spare stocking becomes an important factor for performing BRP. In this paper, an expected cost model is formulated for the joint spare stocking and block replacement policy using the renewal process.
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Yoo, Y., Kim, KJ. & Seo, J. Optimal Joint Spare Stocking and Block Replacement Policy (Cost Modelling of Spare Stocking and Block Replacement). Int J Adv Manuf Technol 18, 906–909 (2001). https://doi.org/10.1007/PL00003959
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DOI: https://doi.org/10.1007/PL00003959