Journal article
Parallel machine replacement
Naval research logistics, Vol.38(3), pp.351-365
06/1991
DOI: 10.1002/1520-6750(199106)38:3<351::AID-NAV3220380306>3.0.CO;2-U
Abstract
We consider the parallel replacement problem in which there are both fixed and variable costs associated with replacing machines. Increasing maintenance costs motivate replacements, and the fixed replacement cost provides incentive for replacing machines of different ages together in “clusters.” We prove two intuitive results for this problem. First, it is never optimal to split a cluster of like-aged machines, and second, it is never optimal to replace newer clusters before older clusters. By incorporating these two results into an algorithmic approach, we vastly reduce the amount of computation required to identify an optimal replacement policy.
Details
- Title: Subtitle
- Parallel machine replacement
- Creators
- Philip C. Jones - Northwestern UniversityJames L. Zydiak - Loyola University ChicagoWallace J. Hopp - Northwestern University
- Resource Type
- Journal article
- Publication Details
- Naval research logistics, Vol.38(3), pp.351-365
- DOI
- 10.1002/1520-6750(199106)38:3<351::AID-NAV3220380306>3.0.CO;2-U
- ISSN
- 0894-069X
- eISSN
- 1520-6750
- Publisher
- Wiley Subscription Services, Inc., A Wiley Company
- Number of pages
- 15
- Language
- English
- Date published
- 06/1991
- Academic Unit
- Business Analytics
- Record Identifier
- 9984963116302771
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