Estimation of optimum exploitation life of a bucket wheel excavator: Through the prism of dynamic programming

The problem of determining the optimum exploitation life of machinery, namely the optimum time for machinery and equipment replacement, represents a complex and highly responsible engineering task. Taking into consideration the situation prevailing at coal pit mines in Yugoslavia, the tasks of this class are very complex and difficult. To make a decision on replacement of capital equipment and machinery, such as bucket wheel excavators within the mentioned systems, understands a management task of utmost responsibility. It requires high professional and analytical knowledge as well as the reliable arguments, based on multidisciplinary professional approach. In this paper, the authors present their views on the problem of establishing the optimum exploitation life of bucket wheel excavators, offering an algorithm, based on dynamic programming, as a solution. Keywords: Bucket wheel excavators, exploitation life of machinery, optimization, operations research, theory of replacement, dynamic programming