A Comparative Study of Continuous and Periodic Inspection Policies in Deteriorating Production Systems

Abstract

Continuous or periodic inspection policies are often used to monitor the maintenance of a production process. In this paper, a comparative study of continuous and periodic inspection policies in deteriorating production systems is provided. The overall cost function is comprised of: set-up, inspection, inventory holding, defective and restoration costs. Different models, constant, linear and exponential, of restoration costs are considered. Tradeoffs between the continuous and the periodic inspection policies are analyzed, and ranges of values of system or cost parameters for which the continuous inspection policy is preferred are established.