Author:
UMEOZOKWERE A O

Email: umeoztony@gmail.com

Paper Title:
OPTIMIZATION OF THE WORKING OUTLAYS OF SIENNA VEHICLES OF EKWULOBIA URBAN MASS TRANSIT, USING DYNAMICS RECURSIVE PROGRAMMING METHOD.

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Publised in OKO JOURNAL OF COMMUNICATION AND INFORMATION SCIENCE    (VOLUME 3 NUMBER 1 FEBRUARY 2020)
Abstract:

This research work is geared towards optimizingthe operational outlays of Sienna vehicles of Ekwulobia Urban Mass Transit. Data were collected for ten years on the said buses and was optimized using Dynamic Programming Recursive method as to determine the optimal replacement point and was validated with Microsoft excel solver. From the results obtained, it was observed that as the total net recursive costs(V_k) for keep action decrease, the vehicles optimal service years increase up to stage 7 where the total net recursive costs(V_r) replace action becomes less than the total net recursive keep action. At this stage the company would make a net profit of ₦7,264,015 if replace action is adhered to and a loss of ₦8,750,759 for non-adherence to the optimum replacement policy. At this time the company is advised to replace all its Sienna vehicles.

Keywords: Vehicles, Operational Costs, Dynamic Programming Model, Microsoft Excel, Transport Service.

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