An extended multi-objective replacement model for flexible automation investments

An extended multi-objective replacement model for flexible automation investments

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Article ID: iaor1992297
Country: United Kingdom
Volume: 29
Issue: 9
Start Page Number: 1823
End Page Number: 1844
Publication Date: Sep 1991
Journal: International Journal of Production Research
Authors:
Keywords: maintenance, repair & replacement
Abstract:

A multi-objective replacement model is developed for flexible automation investments, for use in a decision-support-system environment. The model is based on a general mixed integer goal programming (GP) formulation. The objectives of the model are to derive an optimal implementation sequence for new CNC modules and tooling, replacement schedule for current equipment and production plans for transition and later periods in the planning horizon. Several types of flexibility are considered, in addition to tooling costs and standardization issues. The GP model minimizes a weighted function of the deviational variables for direct profitability, as well as other strategic goals of the firm.

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