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A mixed-integer programming approach to the parallel replacement problem under technological change

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  • İ. Esra Büyüktahtakın
  • Joseph C. Hartman

Abstract

The parallel replacement problem under economies of scale (PRES) determines minimum cost replacement policies for each asset in a group of assets that operate in parallel and are subject to fixed and variable purchase costs. We study the mixed-integer programming formulation of PRES under technological change by incorporating capacity gains into the model such that newer, technologically advanced assets have higher capacity than assets purchased earlier. We provide optimal solution characteristics and insights about the economics of the problem and derive associated cutting planes for optimising the problem. Computational experiments illustrate that the inequalities are quite effective in solving PRES under technological change instances.

Suggested Citation

  • İ. Esra Büyüktahtakın & Joseph C. Hartman, 2016. "A mixed-integer programming approach to the parallel replacement problem under technological change," International Journal of Production Research, Taylor & Francis Journals, vol. 54(3), pages 680-695, February.
    • Handle: RePEc:taf:tprsxx:v:54:y:2016:i:3:p:680-695
    DOI: 10.1080/00207543.2015.1030470
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    Cited by:

    1. Zhang, Le & Gu, Weihua & Fu, Liangliang & Mei, Yu & Hu, Yaohua, 2021. "A two-stage heuristic approach for fleet management optimization under time-varying demand," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 147(C).
    2. Liu, Xinyang & Zheng, Zhuoyuan & Büyüktahtakın, İ. Esra & Zhou, Zhi & Wang, Pingfeng, 2021. "Battery asset management with cycle life prognosis," Reliability Engineering and System Safety, Elsevier, vol. 216(C).
    3. Shields, Brett A. & Seif, Javad & Yu, Andrew Junfang, 2019. "Parallel machine replacement with shipping decisions," International Journal of Production Economics, Elsevier, vol. 218(C), pages 62-71.

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