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Home  >  Transactions OF NAMP VOL1

28. Excel Solution Implementation Templates for Machine Replacement Problems with Age and Decision Period Variable Data by Ukwu Chukwunenye Transactions Vol 1, (Nov. 2015), pp 255 – 264
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Abstract

This paper deployed dynamic programming recursions to design solution implementation templates for the determination of the optimal replacement policies in machine replacement problems, with pertinent data given as functions of machines ages and the decision periods of the planning horizon. These templates circumvent the inherent tedious and prohibitive manual computations associated with dynamic programming formulations and may be optimally appropriated for sensitivity analyses on such models.

Keywords: Ages, Data, Excel, Equipment, Feasible, Dynamic, Optimal, Policy, Programming, Recursions, Replacement, Solution, Template, Variable.

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