How to solve Replacement Problem ? | Replacement Problem in Hindi | Money Value Changes With Time

#DjDecodes #HowToSolveReplacementProblemInHindi #MoneyValueChangesWithTime In this video Part 2 we are going to discuss about the replacement problem or replacement method in Operation research when the value of money changes with time based n Weighted Average Cost. The Replacement Theory in Operations Research is used in the decision making process of replacing a used equipment/machine/devices (single or group) with a substitute; mostly a new equipment of better usage. The replacement might be necessary due to the deteriorating property or failure or breakdown of particular equipment. Replacement Decisions : The problem is to decide the best policy(Most Economical) to adopt with regard to replacement. The need for replacement may due to the following situations: It may be necessary to decide whether to wait for a certain item to fail which might cause some loss or to replace earlier at the expense of higher cost of the item. The item can be considered individually to decide whether to replace now or if not when to reconsider the item in question. It is necessary to decide whether to replace by the same item or by a different type of item. Types of Replacement Problems: i) Replacement policy for items, efficiency of which declines gradually with time without change in money value. ii) Replacement policy for items, efficiency of which declines gradually with time but with change in money value. iii) Replacement policy of items breaking down suddenly a) Individual replacement policy b) Group replacement policy iv) Staff replacement How To Solve Replacement Problem Model With Constant Money Value Replacement Theory Operations Research These methods will be extremely useful for solving problems for MBA /BBA/Engineering Students. The Playlist of SHORTCUT MATHEMATICS TRICKS is present in my Channel. https://www.youtube.com/watch?v=DmuKtPokRqI&list=PLXAxzgzs6nfTbppdL1elaCctnFwo-0rZn Please Like ,Share and Subscribe. https://www.youtube.com/channel/UCKyUfIZ84xugO04qVfI6AZg You can find videos related to Mathematics,Supply Chain,Logistics ,Operations Research and Statistics in my Channel. Pls Like and Follow my Facebook page and Instagram Page: https://www.instagram.com/djdecodes/ https://www.facebook.com/Dj-Decodes-106794614340216/?modal=admin_todo_tour For Business Enquiry please mail to: [email protected]