Replacement Model I [CASE-I Value of Money does not change with time] in Operations Research скачать в хорошем качестве

Replacement Model I [CASE-I Value of Money does not change with time] in Operations Research

Replacement model in operation research in hindi by Gourav Manjrekar ( Being Gourav.com) IF YOU LIKE OUR VIDEO THEN SUBSCRIBE OUR CHANNEL. Visit our website http://beinggourav.com/ for PDF notes on this TOPIC. Like and Follow our Facebook page   / gouravmanjrekarindia   Follow us on Google+ https://plus.google.com/1159340705327... Follow us on Instagram   / beinggourav   1. Replacement of items that deteriorate with time i.e. whose maintenance cost increases with time and value of money is constant during the period. Generally, the cost of maintenance and repair of certain items increases with time and a stage may come when these costs becomes so high that it is more economical to replace the item by a new one. Since both of these costs tend to increase with time, they are grouped while analyzing a problem. If these costs decrease or remain constant with time, the best policy is never to replace the item. However, this condition is hardly met in practice. Let us consider a simple situation which consists of minimizing the average annual cost of equipment whose maintenance cost is a function increasing with time and whose scrap value is constant. As the time value of money is not to be considered, the interest rate is zero and calculations can be based on average annual cost. Let C = the capital cost of a certain item. S = the scrap or resale value of an item. f(t) = running (operating and maintenance) cost of the item at time t n = number of years, the item is to be in use or replacement age of the item. ATCn = average total annual cost of the item. Here the period of time is considered as fixed and n, t take the values 1,2,3….then Total cost over this period is given by Total Cost = Capital cost − scrap value at the end of t years + running (maintenance) cost for t years TC = C− S+ ∑ 𝑓(𝑡) Now the average annual total cost on the item/equipment per year during n years ATCn = TC / n Replacement policy: Replace the item at the end of year in which average total cost is minimum. ~-~~-~~~-~~-~ Please watch: "UNBALANCED ASSIGNMENT PROBLEM IN OPERATION RESEARCH | USING HUNGARIAN METHOD | Lecture 03"    • Unbalanced Assignment Problem | Using Hung...   ~-~~-~~~-~~-~