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Please use this identifier to cite or link to this item: http://hdl.handle.net/123456789/2082

Title: Optimal Equipment Replacement Strategies with Index One Electronic Implementations: A Case Study of Zenith Processor Tin Mining Company, Jos, Plateau State, Nigeria
Authors: Ukwu, Chukwunenye
Dazel, Freeda Ibrahim
Ozemelah, Imegi Johnmac
Keywords: Age transition diagrams
dynamic programming
decision period
decision symbols
EMS machine
equipment replacement optimization problems
mining system
pertinent data
set of feasible ages
Policy prescription
sensitivity analyses
Solution templates
Issue Date: Jul-2017
Publisher: GE-International Journal of Engineering Research
Series/Report no.: Vol. 5;No. 7; Pp 14-28
Abstract: This article used backward dynamic programming recursions to investigate and obtain alternate optimal replacement policies with respect to the Machine fleet at Zenith Processor Tin Mining Company, Jos, Nigeria. The success of the investigation is largely attributed to the robust survey of the mining process, the deployment of analytic formulas for the determination of the set of feasible machine ages corresponding to each decision year to obviate the need for network diagrams and the exploitation of developed Excel solution templates to eliminate the associated cumbersome manual computations. These templates used the pertinent data, as well as the batch feasible ages at each stage as inputs to the solution process and are quite suitable for sensitivity analyses on starting machine ages with respect to mining systems, in particular and equipment replacement problems in general.
URI: http://hdl.handle.net/123456789/2082
ISSN: 2321-1717
Appears in Collections:Mathematics

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