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| Author: | Bernhard, R. H. |
| Title: | Improving the economic logic underlying replacement age decisions for municipal garbage trucks: case study. |
| Journal: | Engineering Economist
1990 : WINTER, VOL. 35:2, p. 129-147 |
| Index terms: | CAPITAL INVESTMENT REPLACEMENT COSTS MAINTENANCE CARS |
| Language: | eng |
| Abstract: | As a garbage truck ages, its maintenance costs increase, repair costs as well, and its availability for service decreases. A large city's decision support system tracks this decline pattern for each truck and specifies a replacement age for it. The system is described and analyzed. It is based upon an imperfect formula which will keep any poorer than average truck too long and replace any better than average too soon. An alternative, economically sound base is proposed for this and similar systems. Methodology for computing the excess cost caused by using the present system's non-optimal recommendations is developed and illustrated. Prospective benefits of implementing the proposed alternative as a base are demonstrated. |
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