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Logging Equipment Replacement: A Quantitative Approach

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Abstract:

The literature on logging equipment replacement is inconsistent and contradictory, and none of the published methodologies purporting to optimize the replacement decision are based upon proven mathematical theories. We introduce a unified theory which may be applied to the replacement of any expensive equipment, discuss its application, and derive the conditions under which it will provide a mathematical optimum. Unlike other published methodologies, our approach incorporates tax considerations as well as operating and ownership costs. The method has been tested on a small computer of the type which is becoming increasingly available even to small businesses and to individuals. Forest Sci. 27:2-12.

Keywords: Computer analysis; discrete-convex programming; mathematical programming; nonlinear programming; optimization; unconstrained optimization

Document Type: Journal Article

Affiliations: Associate Professor of Forestry, School of Forestry and Environmental Studies, Yale University, New Haven, CT 06511

Publication date: 1981-03-01

More about this publication?
  • Forest Science is a peer-reviewed journal publishing fundamental and applied research that explores all aspects of natural and social sciences as they apply to the function and management of the forested ecosystems of the world. Topics include silviculture, forest management, biometrics, economics, entomology & pathology, fire & fuels management, forest ecology, genetics & tree improvement, geospatial technologies, harvesting & utilization, landscape ecology, operations research, forest policy, physiology, recreation, social sciences, soils & hydrology, and wildlife management.
    Forest Science is published bimonthly in February, April, June, August, October, and December.

    2015 Impact Factor: 1.702
    Ranking: 16 of 66 in forestry

    Also published by SAF:
    Journal of Forestry
    Other SAF Publications
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