Hongwei Luo

TL;DR: This article studies component replacement and spare parts reordering policies for a system with spare parts experiencing on-shelf deterioration and shows that when the overall system-wise replacement demand rate is approximately independent of the part consumption strategies, the DF strategy leads to the biggest savings compared to the RS strategy while the NF strategy results in the highest expected cost among the three alternatives.

TL;DR: A one-component deteriorating system carrying one deteriorating spare part is focused on, where the chance of failure of such a system may be reduced by the preventive-switching strategy, but the failure-switched strategy may still result in better economic performance due to the on-shelf deterioration and salvage of spare parts.