Accession Number : AD0722849

Title :   Economic Analysis in Equipment Replacement Problems,

Corporate Author : LOCKHEED ELECTRONICS CO WHITE SANDS MISSILE RANGE N MEX

Personal Author(s) : Sivazlian,B. D.

Report Date : OCT 1970

Pagination or Media Count : 158

Abstract : Methods of computing the most economical replacement age for two classes of equipment, intermittently and continuously operating, are developed. Mathematical models for single equipment and joint equipment replacement are developed for both classes considered. For the classes of equipments considered, undiscounted, discounted, and stochastic models are exhibited along with illustrative examples. A discussion of the techniques developed that identifies the information required for application is presented along with useful approximations that can be used to determine optimal policy alternatives quickly and easily. (Author)

Descriptors :   (*INVENTORY CONTROL, *REPLACEMENT THEORY), (*DECISION MAKING, MATHEMATICAL ANALYSIS), STOCHASTIC PROCESSES, MATHEMATICAL MODELS, ECONOMICS, OPTIMIZATION, DATA PROCESSING, INTEGRAL EQUATIONS, COST EFFECTIVENESS, MANAGEMENT ENGINEERING

Subject Categories : Administration and Management

Distribution Statement : APPROVED FOR PUBLIC RELEASE