Dynamic Progrmming Application in Determining the Optimal Replacement Time of Equipment

동적계획에 의한 장비최적교체시기 결정

Many papers have suggested various models how to decide an optimal time for replacing equipment. In this study, Dynamic Programming is applied to establish a model of replacing equipment and a new algorithm is developed for computerization to meet the increased number of variables. It is possible to predict the real situation with higher accuracy by employing the proposed model including more variables such as planning horizon, original cost, salvage value, decreasing rate, operating and maintenance costs, increasing rate, and so on.