A model for equipment replacement due to technological obsolescence

DOI10.1016/0377-2217(92)90026-6zbMath0825.90422OpenAlexW2128451321MaRDI QIDQ1205699

Wallace J. Hopp, Suresh K. Nair

Publication date: 1 April 1993

Published in: European Journal of Operational Research (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/0377-2217(92)90026-6

Mathematics Subject Classification ID

Reliability, availability, maintenance, inspection in operations research (90B25) Dynamic programming (90C39) Markov and semi-Markov decision processes (90C40)

Related Items (16)

Multiple asset replacement analysis under variable utilization and stochastic demand ⋮ Optimal inventory policies under product obsolescent circumstance ⋮ Optimal selection of obsolescence mitigation strategies using a restless bandit model ⋮ A linear programming formulation with integer solutions for solving an equipment replacement problem with multiple assets: the concave demand case ⋮ On the upgrading policy after the redesign of a component for reliability improvement ⋮ Asset management with reverse product flows and environmental considerations ⋮ Computing minimal forecast horizons: an integer programming approach ⋮ Optimal equipment replacement without paradoxes: A continuous analysis ⋮ Optimal Migration Planning of Telecommunication Equipment ⋮ Infinite horizon optimality criteria for equipment replacement under technological change ⋮ Capacity planning with technology replacement by stochastic dynamic programming ⋮ Technology acquisition with technological progress: Effects of expectations, rivalry and uncertainty ⋮ Technology choice and timing with positive network effects ⋮ Hybrid approach to the rational management of machine replacement ⋮ A profit sharing scheme for a two-firm joint venture ⋮ A paradox in equipment replacement under technological improvement

Cites Work

• On Markov Maintenance Problems
• Conditions for the Existence of Planning Horizons
• Minimal forecast horizon procedures for dynamic lot size models
• Technical Note—A Dual Machine Replacement Model: A Note on Planning Horizon Procedures for Machine Replacements
• A discounted machine-replacement model with an expected future technological breakthrough
• A New Optimality Criterion for Nonhomogeneous Markov Decision Processes
• Concepts of Forecast and Decision Horizons: Applications to Dynamic Stochastic Optimization Problems
• Planning Horizon Procedures for Machine Replacement Models
• A survey of maintenance models: The control and surveillance of deteriorating systems
• Decision and forecast horizons in a stochastic environment: A survey
• Technical Note—Identifying Forecast Horizons in Nonhomogeneous Markov Decision Processes
• Planning horizon procedures for machine replacement models with several possible replacement alternatives
• Unnamed Item

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