Replacement Theory solves Individual Replacement Problems [with time value of money as well as without time value of money] and Group Replacement Problems.
Group Replacement Problem tab solves problem where the decision of periodic / group replacement / maintenance to be done.
- Enter the Number of Parts (No), Individual Replacement Cost of a part, Group Replacement Cost of Parts, Number of Years for which the data available for Calculations
- Press Generate Button
- This action generates the table with as many rows you request for input data available
- Enter the Probabilities of Failure in the respective year [0 to 1.0] & Press solution
- Save option allows you to save the problem data to the local system storage as a ‘.txt’ file
- Solution page contains Result Table, Group Replacement Policy Implications, Individual Replacement Cost and Suggestion for Group or Individual Replacement suitable for the case
- There is an option to save the solution as a PDF file