This paper is a state‐of‐the‐art review of the literature related to optimal maintenance models of systems subject to failure. The emphasis is on work appearing since the 1976 survey, “A Survey of Maintenance Models: The Control and Surveillance of Deteriorating Systems,” by W.P. Pierskalla and J.A. Voelker, published in this journal.
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Sherif et al. (1981) studied this question.
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