DUAL MACHINE REPLACEMENT MODEL: A NOTE ON PLANNING HORIZON PROCEDURES FOR MACHINE REPLACEMENTS.

T. Goldstein, S. P. Ladany, A. Mehrez

Research output: Contribution to journalArticlepeer-review

14 Scopus citations

Abstract

This note extends the work of S. Sethi and S. Chand, who considered a dual machine replacement model in an improving technological environment over time. The model covers cases in which the two machines are of different technology as measured by their investment and operating costs. Under fairly general conditions, we suggest a procedure to solve the infinite horizon problem and find the properties of the optimal solution. A numerical example illustrates the procedure.

Original languageEnglish
Pages (from-to)938-941
Number of pages4
JournalOperations Research
Volume34
Issue number6
DOIs
StatePublished - 1 Jan 1986

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