An optimal multi-machine replacement policy in a serially dependent production system

An optimal multi-machine replacement policy in a serially dependent production system

0.00 Avg rating0 Votes
Article ID: iaor1995870
Country: United Kingdom
Volume: 32
Issue: 11
Start Page Number: 2657
End Page Number: 2667
Publication Date: Nov 1994
Journal: International Journal of Production Research
Authors: ,
Abstract:

Here the authors investigate the serially dependent, multi-machine replacement problem. Given a planning horizon with T periods, M machines of T+1 possible vintages, costs for machine operations, machine replacements, and shutdown times, they investigate a linear programming reformulation which involves half the variables and a factor of T fewer constraints than earlier forms. Only T binary variables are necessary, a factor of M fewer than currently employed by heuristic procedures on alternate formulations. Specialized monotone cost structures are no longer necessary, thus extending the class of problems which can be solved efficiently. Computations done using the reformulation’s linear programming relaxation on randomly generated problems typically produced integer solutions without branching, even in problems with 75 machines and 15 time periods. In situations where exact optimal solutions are required, the reformulation partially remedies the slow convergence witnessed in earlier studies using branch and bound techniques.

Reviews

Required fields are marked *. Your email address will not be published.