Erratum to “an integrated multi-lot-size production inventory model for deteriorating item” [Computer and Operation Research 30 (2003) 671–682]

2006 ◽  
Vol 33 (3) ◽  
pp. 872-873 ◽  
Author(s):  
H.M. Wee ◽  
J.F. Jong
Keyword(s):  
Operation Research ◽  
Inventory Model ◽  
Lot Size ◽  
Production Inventory

scholarly journals Production inventory models for deteiorative items with three levels of production and shortages

2017 ◽  
Vol 27 (4) ◽  
pp. 499-519
Author(s):  
Chickian Krishnamoorthi ◽  
C.K. Sivashankari
Keyword(s):  
Production Rate ◽  
Consumer Satisfaction ◽  
Optimal Solution ◽  
Inventory Model ◽  
Lot Size ◽  
Inventory Models ◽  
Total Cost ◽  
Initial Stage ◽  
Production Inventory ◽  
Holding Cost

In this paper, three level production inventory models for deteriorative items are considered under the variation in production rate. Namely, it is possible that production started at one rate, after some time, switches to another rate. Such a situation is desirable in the sense that by starting at a low rate of production, a large quantum stock of manufacturing items at the initial stage are avoided, leading to reduction in the holding cost. The variation in production rate results in consumer satisfaction and potential profit. Two levels of production inventory models are developed, and the optimum lot size quantity and total cost are derived when the production inventory model without shortages is studied first and a production inventory model with shortages next. An optimal production lot size, which minimizes the total cost, is developed. The optimal solution is derived and a numerical example is provided. The validation of the results in this model was coded in Microsoft Visual Basic 6.0.

Economic Production Inventory model with the associated costs of internet advertising to acquire customers residing worldwide

2014 ◽  
Vol 12 (9) ◽  
pp. 3921-3926
Author(s):  
Ritha Prakash ◽  
Nivetha Martin
Keyword(s):  
Modern Technology ◽  
Inventory Model ◽  
Internet Advertising ◽  
Advertising Strategy ◽  
Technology Acquisition ◽  
Industrial Sectors ◽  
Economic Production ◽  
Production Inventory ◽  
Short Span

In recent times, we are witnessing the technological revolution which provides access to tremendous changes in all the fields including the industrial sectors. The notable benefit of the modern technology is quick accomplishment of complex tasks within a short span of time, which has motivated the manufacturers to imbibe novelty techniques in the production process to enhance the quality of the product so as to retain its market position amidst the competitors. As globalization has gained more concern, the manufacturers employ internet advertising strategy to elevate the product to international level and to propagate the attributes of the products to the customers residing worldwide. In this paper an EPQ inventory model is developed in which the associated costs of technology, acquisition of local and international customers via internet advertising costs are included, a numerical example is also presented to validate the model.

Parameter values for lot size and quality level via CAE simulation, statistical method, and mathematical programming

2021 ◽  
pp. 095440542093787
Author(s):  
Angus Jeang ◽  
Chien-Ping Chung
Keyword(s):  
Inventory Management ◽  
Quality Level ◽  
Response Functions ◽  
Lot Size ◽  
Optimal Process ◽  
Production Inventory ◽  
Production Quantity ◽  
Parameter Values ◽  
Back Order ◽  
Order Intervals

Because of the stochastic nature of production systems, it is necessary to first build an uncertainty model for subsequent real applications. Moreover, process parameter planning, quality design, and production inventory management are interdependent elements. In this research, a computer simulation model via computer-aided engineering (CAE) was developed to determine the optimal process parameters, lot size, and back order intervals for an integrated process design and inventory management system with simultaneous quality and cost considerations. Based on the estimated process time and costs obtained using CAE, the derived production rate and unit cost were then used for production inventory applications. In consideration of the uncertainty factor, the response surface method (RSM) was employed to analyze the output, namely the total costs incurred in employing the proposed approach, as well as the inputs, which include the cutting parameters, production quantity, and back order intervals. After the RSM was used to obtain the response functions, which represent the output of the collective interests, the mathematical programming (MP) was formulated based on the response functions to determine the optimal process parameters, process quality levels, production order quantities, and back order intervals. The total cost per set time unit was minimized by determining the required quality level, process parameter values, Economic Production Quantity (EPQ), and back order intervals. A cutting example was chosen to demonstrate the proposed approach. Two cases were used for comparison: the Integrated Case (the proposed approach herein) and the Disintegrated Case.

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