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The Economic Production Quantity (EPQ) model is often used in the manufacturing sector to assist firms in determining the optimal production lot size that minimizes overall production-inventory costs. There are some assumptions in the EPQ model that restrict this model for real-world...
Persistent link: https://www.econbiz.de/10009759540
This paper is an extension of Hsu and Hsu (Int J Ind Eng Comput 3(5):939–948, 2012) aiming to determine the optimal order quantity of product batches that contain defective items with percentage nonconforming following a known probability density function. The orders are subject to 100 %...
Persistent link: https://www.econbiz.de/10011556673
In this paper, the classical economic production quantity (EPQ) model is developed for non-instantaneous deteriorating items by considering a relationship between the holding cost and the ordering cycle length. Two models are developed. First, the proposed model is considered when backorders are...
Persistent link: https://www.econbiz.de/10011562719
Flexible manufacturing system (FMS) readily addresses the dynamic needs of the customers in terms of variety and quality. At present, there is a need to produce a wide range of quality products in limited time span. On-time delivery of customers’ orders is critical in make-to-order (MTO)...
Persistent link: https://www.econbiz.de/10012020093
In this article, an imperfect vendor-buyer inventory system with stochastic demand, process quality control and learning in production is investigated. It is assumed that there are learning in production and investment for process quality improvement at the vendor’s end, and lot-size dependent...
Persistent link: https://www.econbiz.de/10012164651
Certain inventory items are living organisms, for example livestock, and are therefore capable of growing during the replenishment cycle. These items often serve as various saleable food items downstream in supply chains. The purpose of this paper is to develop a lot sizing model for growing...
Persistent link: https://www.econbiz.de/10012164696
To access the efficient inventory system, managers should consider all the situations that have happened in reality. One of these situations is the presence of the defective items in each received lot and the other situation is being the group of customers that do not wait to fulfill their...
Persistent link: https://www.econbiz.de/10011765297