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Setting the optimal type of equipment to be adopted and the optimal time to replace it

By Mihaela Albici


The mathematical models of equipment’s wear and tear, and replacement theory aim at deciding on the purchase selection of a certain equipment type, the optimal exploitation time of the equipment, the time and ways to replace or repair it, or to ensure its spare parts, the equipment’s performance in the technical progress context, the opportunities to modernize it etc.

Topics: M11 - Production Management, O14 - Industrialization; Manufacturing and Service Industries; Choice of Technology
Year: 2009
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