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Replacement

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Operational Research by Example

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Abstract

We all experience the problems of replacement and try to establish the best time to renew our car, refrigerator and some other such item. We may not always be rational over this replacement, taking into account what would be the best time financially for us to replace and quite often these are left until a break-down occurs. After such a break-down we often then consider, when faced with the bill for replaced parts and maintenance, that we ought to have had some organised plan perhaps based on previous experience which may have saved this outlay of money.

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Author information

Authors and Affiliations

  1. University of Birmingham, UK

    Colin F. Palmer M.Sc., C.Eng., M.B.I.M., M.I.Prod.E. (Lecturer in Quantitative Methods)

  2. Liverpool Polytechnic, UK

    Alexander E. Innes B.Sc. (Econ.) (Hons), D.P.A. (Lond.), Cert. Ed. (Leeds) (Senior Lecturer in Business Statistics)

Authors
  1. Colin F. Palmer M.Sc., C.Eng., M.B.I.M., M.I.Prod.E.
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  2. Alexander E. Innes B.Sc. (Econ.) (Hons), D.P.A. (Lond.), Cert. Ed. (Leeds)
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Copyright information

© 1980 Colin F. Palmer and Alexander E. Innes

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Palmer, C.F., Innes, A.E. (1980). Replacement. In: Operational Research by Example. Palgrave, London. https://doi.org/10.1007/978-1-349-16254-3_9

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