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unit 3 Replacement theory

Types of Replacement Problem
Replacement problems, in general, are of three types.
1.Replacement of items that deteriorate with time.
2.Replacement of items that break down completely, and
3.Replacementofitemsthatbecomesoutofdateduetonew
developments.
REPLACEMENT OF ITEMS THAT DETERIORATE WITH TIME
Generally, the maintenance cost of certain items, e.g., machine, always
increases gradually with time and a stage comes when the maintenance
cost becomes so large that it is better and economical to replace the item
with a new one. There may be a number of alternative choices and in each
choice,wemakeacomparisonbetweenvariousalternativesby
considering and safety risks, etc.

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