A Solution Procedure for the Multi-Component Deterministic Opportunistic Replacement Problem

Rao, A and Rao, M R (2012) A Solution Procedure for the Multi-Component Deterministic Opportunistic Replacement Problem. Working Paper. SSRN. (Unpublished)

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Researchers in the past dealt with the optimization problem relating to deterministic opportunistic replacement problem. Complete solutions were obtained for a two component situation for both finite and infinite time horizon. For the multi-component opportunistic replacements with fixed time horizon, a mixed integer linear programming formulation is given in the literature. In this paper, a simplified alternative approach to solving the two-component problem is given. A Dynamic Programming approach to solve the two-component problem which can be extended to K-component situation is also discussed. The mixed integer programming formulation is modified and computational advantages are discussed.

Affiliation: Indian School of Business
ISB Creiators:
ISB Creators
Rao, M R
Item Type: Monograph (Working Paper)
Additional Information: The research article was published by the author with the affiliation of Indian Institute of Management Bangalore.
Uncontrolled Keywords: Solution Procedure, Multi-Component , Deterministic Opportunistic, Replacement Problem
Subjects: Applied Statistics and Computing
Operations Management
Depositing User: Veeramani R
Date Deposited: 03 Apr 2019 16:19
Last Modified: 03 Apr 2019 16:19
URI: http://eprints.exchange.isb.edu/id/eprint/760
Publisher URL: http://dx.doi.org/10.2139/ssrn.2155155
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