On the Computational Solution of Dynamic-Programming Processes — XV

An Industrial Replacement Process

Stuart E. Dreyfus

ResearchPublished 1958

A discussion of an industrial replacement problem which involves two identical parts of a single machine. This problem, which arose in the tire-manufacturing industry, has been studied by M. W. Sasieni who arrived at a replacement policy shown to be nonoptimal. The present memorandum applies the functional-equation technique of dynamic programming to the problem. Numerical examples are considered; optimal replacement policies are determined.

Order a Print Copy

Format
Paperback
Page count
11 pages
List Price
$20.00
Buy link
Add to Cart

Document Details

  • Copyright: RAND Corporation
  • Availability: Available
  • Year: 1958
  • Print Format: Paperback
  • Paperback Pages: 11
  • Paperback Price: $20.00
  • Document Number: RM-2134

Citation

RAND Style Manual
Dreyfus, Stuart E., On the Computational Solution of Dynamic-Programming Processes — XV: An Industrial Replacement Process, RAND Corporation, RM-2134, 1958. As of September 27, 2024: https://www.rand.org/pubs/research_memoranda/RM2134.html
Chicago Manual of Style
Dreyfus, Stuart E., On the Computational Solution of Dynamic-Programming Processes — XV: An Industrial Replacement Process. Santa Monica, CA: RAND Corporation, 1958. https://www.rand.org/pubs/research_memoranda/RM2134.html. Also available in print form.
BibTeX RIS

This publication is part of the RAND research memorandum series. The research memorandum series, a product of RAND from 1948 to 1973, included working papers meant to report current results of RAND research to appropriate audiences.

This document and trademark(s) contained herein are protected by law. This representation of RAND intellectual property is provided for noncommercial use only. Unauthorized posting of this publication online is prohibited; linking directly to this product page is encouraged. Permission is required from RAND to reproduce, or reuse in another form, any of its research documents for commercial purposes. For information on reprint and reuse permissions, please visit www.rand.org/pubs/permissions.

RAND is a nonprofit institution that helps improve policy and decisionmaking through research and analysis. RAND's publications do not necessarily reflect the opinions of its research clients and sponsors.