A general framework for optimal discrete-time preventive replacement models

Maintenance optimization enhances the procedures and strategies for maintaining assets, equipment, or systems, thereby improving performance, reliability, and cost-effectiveness. This paper proposes a general framework for optimizing maintenance replacement strategies in a discrete-time setting. To address multiple replacement options occurring as simultaneous events, we define the profound concept of priority for more replacement option. Initially, the analysis focuses on optimal preventive replacement policies that minimize expected costs in each model by prioritizing replacements. Subsequently, the discussion expands to a comprehensive framework that includes age replacement models, minimal repair models, and block replacement models.