A replacement problem could be any sort of problem relating to the replacement of something, whether this is an item, part or person. Important replacement situations could involve those in which something needs to be replaced quickly in order for necessary functions to take place, and one policy could be to replace various elements within a certain time period. The costs relevant to the replacement of something include the cost of the replacement item itself, and the revenue or profit replacing the item will generate. It may be necessary to make a decision about whether or not to replace something by considering whether there will be a financial gain overall.
- Replacement parts
- To replace or not to replace