Equipment Replacement: A Comparison of Two Methods
Two equipment replacement models are reviewed, revised, and compared. The advantages and disadvantages of each is outlined. A generalization of the model presented by Tufts and Mills (1982) was found to properly incorporate all costs associated with equipment replacement. A revised Butler and Dykstra (1981) model was still found to incorrectly estimate capital investment costs. Butler and Dykstra's simpler procedures for estimating some of the costs needed in both models could reduce the difficulty of implementing the Tufts and Mills model. The Tufts and Mills model is flexible and is applicable to other management decisions. Forest Sci. 31:661-670.
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Document Type: Journal Article
Affiliations: Assistant Professor, Forest Harvesting, School of Forestry, Alabama Agricultural Experiment Station, Auburn University, AL 36849
Publication date: 1985-09-01
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- 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.
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