An economic production quantity inventory model for multi-product imperfect production system with setup time/cost function View Full Text


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Article Info

DATE

2021-12-15

AUTHORS

Amir Hossein Nobil, Seyed Taghi Akhavan Niaki, Seyed Armin Akhavan Niaki, Leopoldo Eduardo Cárdenas-Barrón

ABSTRACT

The economic production quantity (EPQ) is one of the most commonly used models for production planning and inventory control problems. In this paper, a multi-product single- machine EPQ inventory model with imperfect production is extended under production capacity. In this system, produced items do not have perfect quality; they either are reworked or are scrapped. Moreover, the limited warehouse space for each item and the limited total available capital lead to constraints for storage and budget, respectively. Besides, the setup cost/time for each product depends on the quantity produced. The objective function of the developed EPQ inventory model is shown to be a convex non-linear programming problem (CNLPP) for all ranges of the setup cost function. Hence, a heuristic algorithm is proposed to solve it. A numerical example is solved in order to demonstrate the use of the proposed inventory model. More... »

PAGES

49

References to SciGraph publications

  • 2017-10-11. A multiproduct single machine economic production quantity (EPQ) inventory model with discrete delivery order, joint production policy and budget constraints in ANNALS OF OPERATIONS RESEARCH
  • 2018-06-09. A Generalized Economic Order Quantity Inventory Model with Shortage: Case Study of a Poultry Farmer in ARABIAN JOURNAL FOR SCIENCE AND ENGINEERING
  • 2019-05-30. Note on “Multiproduct Single-Machine Production System with Stochastic Scrapped Production Rate, Partial Backordering and Service Level Constraint” in INTERNATIONAL JOURNAL OF APPLIED AND COMPUTATIONAL MATHEMATICS
  • 2021-04-10. The impact of system deterioration and product warranty on optimal lot sizing with maintenance and shortages backordered in REVISTA DE LA REAL ACADEMIA DE CIENCIAS EXACTAS, FÍSICAS Y NATURALES. SERIE A. MATEMÁTICAS
  • 2020-10-10. An accurate and reliable mathematical analytic solution procedure for the EOQ model with non-instantaneous receipt under supplier credits in REVISTA DE LA REAL ACADEMIA DE CIENCIAS EXACTAS, FÍSICAS Y NATURALES. SERIE A. MATEMÁTICAS
  • 2008-06-03. Lot sizing with non-zero setup times for rework in JOURNAL OF SYSTEMS SCIENCE AND SYSTEMS ENGINEERING
  • 2019-12-18. Optimal ordering policy in an economic order quantity (EOQ) model for non-instantaneous deteriorating items with defective quality and permissible delay in payments in REVISTA DE LA REAL ACADEMIA DE CIENCIAS EXACTAS, FÍSICAS Y NATURALES. SERIE A. MATEMÁTICAS
  • 2017-03-31. Some Observations to: Lot Sizing with Non-zero Setup Times for Rework in INTERNATIONAL JOURNAL OF APPLIED AND COMPUTATIONAL MATHEMATICS
  • 2019-12-09. Mathematical analytic techniques and the complete squares method for solving an inventory modelling problem with a mixture of backorders and lost sales in REVISTA DE LA REAL ACADEMIA DE CIENCIAS EXACTAS, FÍSICAS Y NATURALES. SERIE A. MATEMÁTICAS
  • 2020-04-10. Optimal inventory policy in hospitals: a supply chain model in REVISTA DE LA REAL ACADEMIA DE CIENCIAS EXACTAS, FÍSICAS Y NATURALES. SERIE A. MATEMÁTICAS
  • 2017-06-21. Joint economic lot sizing model with stochastic demand and controllable lead-time by reducing ordering cost and setup cost in REVISTA DE LA REAL ACADEMIA DE CIENCIAS EXACTAS, FÍSICAS Y NATURALES. SERIE A. MATEMÁTICAS
  • 2017-04-04. A unified presentation of inventory models under quantity discounts, trade credits and cash discounts in the supply chain management in REVISTA DE LA REAL ACADEMIA DE CIENCIAS EXACTAS, FÍSICAS Y NATURALES. SERIE A. MATEMÁTICAS
  • 2019-11-11. Some identities of extended degenerate r-central Bell polynomials arising from umbral calculus in REVISTA DE LA REAL ACADEMIA DE CIENCIAS EXACTAS, FÍSICAS Y NATURALES. SERIE A. MATEMÁTICAS
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