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Author/Affiliation: Chebet Evaline Langat
Optimization of Investment in Decision – Making in Engineering Economy
Investment decision-making plays a pivotal role in shaping both individual and institutional economic outcomes. Given the increasing complexity and uncertainty in global markets, optimizing investment decisions has become essential for maximizing returns while managing risks. This work explores modern optimization approaches in investment decision-making, focusing on mathematical modeling techniques such as linear programming (LP), mixed-integer…
Read More Economic Replacement of Plants and Equipment: A Decision-Making Framework in Engineering
While prior research has focused on siloed approaches to equipment replacement, this study introduces an integrated decision-making framework that synergizes predictive maintenance (IoT/M), dynamic multi-criteria analysis (MCDM), and sustainability-driven material selection. By validating this model through cross-sector case studies and strategic operational planning across various industrial sectors. We demonstrate a 30% improvement in replacement timing…
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