A Lot-for-Lot Model with Multiple Instalments for a Production System under Time-Varying Demand Process
Mohd Omar, and Supadi S.S., (2003) A Lot-for-Lot Model with Multiple Instalments for a Production System under Time-Varying Demand Process. Matematika, 19 (2). pp. 101-106. ISSN 01278274 Official URL: http://www.fs.utm.my/matematika/images/stories/matematika/200319203.pdf AffiliationsUniversity of Malaya, Institute of Mathematical Sciences University of Malaya, Institute of Mathematical Sciences AbstractIn manufacturing systems, the quantity of raw material needed in production is dependent on the production size. In this paper we consider a manufacturing system which procures raw materials from suppliers and processes them to make a finished product. The problems are to determine an ordering policy for raw materials (a lot with multiple instalments) and a production policy for the finished product to satisfy a deterministic time-varying demand process. We find an optimal solution for the model by using the Solver of Microsoft Excel. We present some numerical examples for a discussion. | Item Type: | Journal |
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| Keywords: | Batch size, Manufacturing system, Time-varying demand, Optimization, Integrated inventory |
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| Subjects: | Q Science, Computer Science |
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| ID Code: | 5736 |
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