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Applying Group Theory for solving Machines’ Turnovers with Capital Budgeting Approach
The 3rd National Intelligent Systems and Information Technology Symposium (2010)
  • Hannaneh Rashidi-Bajgan
  • Taravatsadat Nehzati
  • Napsiah Ismail
Abstract
Applying and utilizing technology in modern manufacturing systems needs to update and upgrade facilities repetitively by efficient ways to stay with great productivity along efficiency. Capital Budgeting Problem (CBP) is one of the most important issues in decision making about capital in manufacturing management; CBP determines the best investments in capital goods such as new plans, replacements, research development projects and other worth pursuing authorization subjects. This problem deals with the amount of revenues as the result of investing in the previous periods in order to maximize the amount of Net Present Value (NPV) on the decision time. Making discussions about investments and its related effects on revenues is the purpose of this paper. Group theory with network approach as an exact mathematical discipline is used to solve such an Integer Programming Model (IPM). An example with predicted maintenance or improvement options of distinctive machines is supposed in order to clear this model.
Keywords
  • Machine’s Turnovers,
  • Capital Budgeting,
  • Integer Programming Model,
  • Group Theory
Publication Date
Fall October 14, 2010
Citation Information
Hannaneh Rashidi-Bajgan, Taravatsadat Nehzati and Napsiah Ismail. "Applying Group Theory for solving Machines’ Turnovers with Capital Budgeting Approach" The 3rd National Intelligent Systems and Information Technology Symposium (2010)
Available at: http://works.bepress.com/hannaneh_rashidi/6/