An Optimal Ordering and Replacement Policy of a Markovian Deterioration System

  title={An Optimal Ordering and Replacement Policy of a Markovian Deterioration System},
  author={Hideki Kawai},
UNDER INCOMPLETE OBSERVATION PART n Hajime Kawai University of Osaka Prefecture (Received July 6, 1982; Revised June 29, 1983) We consider an optimal ordering and replacement policy of a discrete time Markovian deterioration system when the observation of the system is incomplete. The problem is to examine the structure of an optimal policy which minimizes the total expected discounted cost in an infinite time span. Formulating by a Markovian decision process, the optimality of a monotone… CONTINUE READING

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