A warehouse is building a new material handling system and will need three years

Question

A warehouse is building a new material handling system and will need three years for the system to be completed. In the meantime, the warehouse will need five forklifts to fulfill the material handling needs. The warehouse has several options on acquiring the forklifts needed, which include getting forklifts that last three years, buying a cheaper one and upgrade one or two year later. Table below shows the options available and the cost associated with each option. a. Draw a node and arc diagram for this problem. Hint: Node will be the year, arc will be the cost. b. To minimize the total cost, when should the forklift be replaced? You must show your proof that the replacement schedule you identified is indeed cost the least. i.e. you need to identify all potential schedule, calculate the cost for each schedule, then identify the least cost schedule.

Explanation / Answer

A warehouse is building a new material handling system and will need three years

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