Modelling and Economic Analysis of a Simple Repairable System with Constant Failure and Repairs

Abstract

Availability and profit of an industrial system are becoming an increasingly important issue. Where the availability of a system increases, the related profit will also increase. This paper dealt with the evaluation of availability, busy period and profit of redundant system. In this paper, the system consists of four subsystems arranged in series-parallel. Performance evaluation model for the availability, busy period and profit has been developed with the help of mathematical formulation based on Markov Birth-Death process using probabilistic approach. A transition diagram representing the operational behavior of the system has been developed. Failure and repair rates of subsystems are constant. The effect of failure and repair rates of each subsystem on generated profit has been determined.