REPAIR LIMITS REPLACEMENT POLICY AND THE 1 1/4 TON TRUCK

Authors
  1. Maille, J.P.
Corporate Authors
Operational Research and Analysis Establishment, Ottawa ONT (CAN) Directorate of Mathematics and Statistics
Abstract
The paper presents the concept of economic repair limits for individual vehicle replacement and how it can be applied to a specific fleet. The potential benefits of using such a policy are discussed and a specific example is given using the 1 1/4 ton commercial truck. The fleet operation is modelled as a Markov chain and optimization is carried out to minimize the total operating costs using dynamic programming over a finite horizon. The model assumptions are discussed and possible extensions are presented. The example selected shows the substantial savings that may be possible by implementing and adhering to such a replacement policy.
Report Number
DLA-WP-2/76 — Working Paper
Date of publication
15 Feb 1976
Number of Pages
27
DSTKIM No
77-04135
CANDIS No
100815
Format(s):
Hardcopy;Originator's fiche received by DSIS

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