Question

Explain the importance and utility of the replacement model in business organizations.

Answer 1

The replacement model used in business organisations refers to the introduction of a new component in the place of old deteriorating equipment.

It helps a business in taking out the outdated items involving high maintenance costs.

The new replacements help in filling the supply gaps which occurred due to an accident or any other unforeseen event.

Answer 2

Answer:

Discuss the importance of replacement models