Source: J. Appl. Probab. Volume 42, Number 1
(2005), 1-14.
In this paper, we study a monotone process maintenance model for a
multistate system with k working states and l
failure states. By making different assumptions, we can apply the
model to a multistate deteriorating system as well as to a
multistate improving system. We show that the monotone process
model for a multistate system is equivalent to a geometric process
model for a two-state system. Then, for both the deteriorating and
the improving system, we analytically determine an optimal
replacement policy for minimizing the long-run average cost per
unit time.
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