Multiple machine replacement analysis

Multiple machine replacement analysis

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Article ID: iaor19911427
Country: Netherlands
Volume: 20
Issue: 3
Start Page Number: 265
End Page Number: 275
Publication Date: Dec 1990
Journal: Engineering Costs and Production Economics
Authors: ,
Keywords: replacement
Abstract:

Historically, the study of economic equipment replacement is primarily limited to that of a single machining system. The replacement situation whereby the machines under consideration are part of a large integrated system has received little attention. There are two major difficulties in analyzing such a problem: the interactive nature of an integrated system and the combinatorial nature of replacement alternatives. This paper attempts to first view the production system as a network of centers, and then approach the multiple equipment replacement decision as a configuration selection problem. An elaborate example is included.

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