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| Author: | Karabakal, N. Lohmann, J. Bean, J. |
| Title: | Parallel replacement under capital rationing constraints |
| Journal: | Management Science
1994 : MAR, VOL. 40:3, p. 305-319 |
| Index terms: | INTEGER PROGRAMMING EQUIPMENT CAPITAL |
| Language: | eng |
| Abstract: | Contrary to serial replacement, parallel replacement problems require a decision maker to evaluate a portfolio of replacement decisions in each time period because of economic interdependencies among assets. In this paper, the authors describe a parallel replacement problem in which the economic interdependence among assets is caused by capital rationing. The research was motivated by the experience gained from a vehicle fleet replacement study where solutions to serial replacement problems could not be implemented since they violated management's budget plan. |
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