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This paper proposes a prognostic-information-based joint order-replacement policy for a non-repairable critical system in service. The primary difference from existing work is to take the online condition monitoring data into consideration during the joint decision-making process. Towards this end, the system’s degradation trajectory is modeled by a Wiener process whose parameters are real-time estimated...
As an efficient means of detecting potential plant failure, condition monitoring is growing popular in industry with million's spent on condition monitoring hardware and software. The use of condition monitoring techniques will generally increase plant availability and reduce downtime costs, but in some cases it will also tend to over-maintaining the plant in question. There is obviously a need for...
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