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) : Sethi,S. P. ; Morton,T. E.

Report Date : 01 FEB 1971

Pagination or Media Count : 18

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)

Descriptors :   (*REPLACEMENT THEORY, MACHINES), DYNAMIC PROGRAMMING, MATHEMATICAL MODELS, PARTIAL DIFFERENTIAL EQUATIONS, MAINTENANCE, OPTIMIZATION

Subject Categories : Operations Research
      Machinery and Tools

Distribution Statement : APPROVED FOR PUBLIC RELEASE