A Multi-Attribute Product Life-Cycle Approach to Replacement Decisions: An Application of Saaty's System-With-Feedback Method
- 1 January 1993
- journal article
- research article
- Published by Taylor & Francis in The Engineering Economist
- Vol. 38 (4), 321-344
- https://doi.org/10.1080/00137919308903107
Abstract
The lack of investment in new manufacturing technology compromises the long-range competitiveness of a manufacturing company. The choice of appropriate manufacturing equipment is an extremely important management decision. This paper presents a multi-attribute approach to equipment replacement decisions based on the product life-cycle. The problem is formulated using the System-With-Feedback (SWF) model developed by Saaty [10]. Saaty's model is particularly suitable tor the modeling of time-dynamic and tnieraciive elements of such replacement situations.Keywords
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