Replacement models and replacement policy


Question 1: What do you mean by replacement problem? Explain some important replacement situations.

Question 2: Describe different replacement problems.

Question 3: The cost of a machine is Rs 6,100 and its scrap value is only Rs 100. The maintenance costs are found from experience to be.

477_maintenance cost.jpg

When should machine be replaced?

Question 4: The initial cost of an item is Rs 15,000 and maintenance or running costs (in Rs) for different years are given below

290_replacement policy.jpg

What is the replacement policy to be adopted if the capital is worth10 % and there is no salvage value?

Question 5: The given failure rates have been observed for a certain type of light bulbs

1004_failure rates of bulbs.jpg

There are 1000 bulbs in use, and it costs Rs 2 to replace an individual bulb which has burnt out. If all bulbs were replaced simultaneously it would cost 50 paise per bulb. It is proposed to replace all bulbs at fixed intervals of time, whether or not they have burnt out, and to continue replacing burnt out bulbs as and when they fail. At what interval should all bulbs be replaced? At what group replacement price per bulb would a policy of strictly individual replacement become preferable to the adopted policy?

Request for Solution File

Ask an Expert for Answer!!
Operation Research: Replacement models and replacement policy
Reference No:- TGS03367

Expected delivery within 24 Hoursrs

2015 ┬ęTutorsGlobe All rights reserved. TutorsGlobe Rated 4.8/5 based on 34139 reviews.