Accession Number:

AD0729065

Title:

A Mixed Optimization Technique for the Generalized Machine Replacement Problem.

Descriptive Note:

Research rept.,

Corporate Author:

CARNEGIE-MELLON UNIV PITTSBURGH PA MANAGEMENT SCIENCES RESEARCH GROUP

Personal Author(s):

Report Date:

1971-02-01

Pagination or Media Count:

18.0

Abstract:

A mixed optimization technique for optimal machine replacement is presented which allows much more flexibility than previous models. Optimal purchase, maintenance, and sale of a given machine between any two given points in time is treated as a sub-problem, which one may choose to solve via control theory, dynamic programming, or practical engineering considerations. A control theory formulation is used in the paper as an illustration. These sub-problem solutions are then incorporated into a Wagner-Whitin formulation for solution of the full problem. The technique is particularly useful for problems with such asymmetries as an existing initial machine or uneven technological change. Author

Subject Categories:

  • Operations Research
  • Machinery and Tools

Distribution Statement:

APPROVED FOR PUBLIC RELEASE