Abstract.
In this study, the economic years of two equipment used in the production process of a certain company were determined using replacement and maintenance models. Two real life data sets on annual cost of maintenance and duration of the equipment under study were used. The replacement model with constant money value and an increasing running cost was used. The result of the study reveals that the economic life of the equipment is seven years. Thus, the optimum replacement policy was to replace the equipment after seven years.
Keywords: Application, maintenance, replacement, models, efficiency, equipment.
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