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