Determining and optimizing the economic life of equipment with the life cycle cost (LCC) approach (case study: aluminum smelting furnace)

One of the important issues in the field of decision-making of industrial organizations is determining the optimal time to use equipment. Because premature replacement, additional costs for the organization and late replacement will increase maintenance and repair costs. As a result, equipment management can be shown by using the useful life of the equipment. Now, calculating and identifying the life cycle is essential to determine the optimal life of the equipment. In the current research, the cost of the life cycle for the melting furnace of machines is implemented, the first article is to determine the life cycle cost model and the collection and cost of the costs, and then using the relations of engineering economy, the duration of use of this equipment with the help of the life cycle cost and point to be used. It comes to the head. Finally, after calculations and investigation, it was determined that the company's melting furnace should be removed after 10 years of use. In fact, the use of the life cycle, in addition to determining the time of equipment replacement, helps the managers of industrial organizations in making decisions.