An Application of an Inventory Model for Production Planning

2015 ◽  
pp. 179-193
Author(s):  
Paveena Chaovalitwongse ◽  
Pakpoom Rungchawalnon ◽  
Kwankeaw Meesuptaweekoon
Keyword(s):  
Production Planning ◽  
Inventory Model

A two-phased perishable inventory model for production planning in a food industry

2019 ◽  
Vol 133 ◽  
pp. 175-185 ◽  
Author(s):  
Moonsoo Shin ◽  
Hwaseop Lee ◽  
Kwangyeol Ryu ◽  
Yongju Cho ◽  
Young-Jun Son
Keyword(s):  
Production Planning ◽  
Food Industry ◽  
Inventory Model ◽  
Perishable Inventory

scholarly journals Generalized Economic Order Quantity Inventory Model using Brownian Motion in Food Production Planning

2020 ◽  
Vol 8 (4S5) ◽  
pp. 5-10
Keyword(s):  
Brownian Motion ◽  
Production Planning ◽  
Food Production ◽  
Inventory Model ◽  
Linear Functions ◽  
Purchasing Cost ◽  
Perishable Product ◽  
Pricing Decisions ◽  
System Solution ◽  
Procurement Price

The goal of this paper is to propose a Generalized EOQ inventory model, which combines Inventory replenishment and pricing decisions for perishable product in an Inventory model. The Stochastic Demandrequests for new and old items are derivedvia linear functions of their cost. The proposed solution obtains from the optimum system solution, such as food Procurement price, Shortage cost, Purchasing cost, Operational cost and Total costare reduced. A Mathematical model is introduced along with differential matrix to find optimal solutions for the Inventory method in food production planning. Numerical example and Sensitivity Analysis are explained in the proposed system. Brownian Motion are found from Cycle Length (L= 1.1 to 1.5). The Brownian Motionanalyses all the costs and plays a major part to reduce it further.

A Linear Programming Model for Product Mix Profit Maximization in A Small Medium Enterprise Company

2020 ◽  
Vol 6 (1) ◽  
Author(s):  
S Mohd Baki ◽  
Jack Kie Cheng
Keyword(s):  
Linear Programming ◽  
Production Planning ◽  
Business Performance ◽  
Programming Model ◽  
Profit Maximization ◽  
Optimal Level ◽  
Linear Programming Model ◽  
Product Mix ◽  
Small Medium Enterprises ◽  
Medium Enterprises

Production planning is often challenging for small medium enterprises (SMEs) company. Most of the SMEs are having difficulty in determining the optimal level of the production output which can affect their business performance. Product mix optimization is one of the main key for production planning. Many company have used linear programming model in determining the optimal combination of various products that need to be produced in order to maximize profit. Thus, this study aims for profit maximization of a SME company in Malaysia by using linear programming model. The purposes of this study are to identify the current process in the production line and to formulate a linear programming model that would suggest a viable product mix to ensure optimum profitability for the company. ABC Sdn Bhd is selected as a case study company for product mix profit maximization study. Some conclusive observations have been drawn and recommendations have been suggested. This study will provide the company and other companies, particularly in Malaysia, an exposure of linear programming method in making decisions to determine the maximum profit for different product mix.

INVENTORY MODEL OF DETERIORATING ITEMS FOR LINEAR HOLDING COST WITH TIME DEPENDENT DEMAND

2015 ◽  
Vol 4 (1) ◽  
pp. 29-36
Author(s):  
N Mishra ◽  
SP Mishra ◽  
Srichandan Mishra ◽  
J Panda ◽  
UK Misra
Keyword(s):  
Inventory Model ◽  
Deteriorating Items ◽  
Time Dependent ◽  
Holding Cost ◽  
Dependent Demand

Improvements to production planning in oil sands mining through analysis and simulation of truck cycle times

CIM Journal ◽  
2019 ◽  
Vol 10 (1) ◽  
Author(s):  
E. Goris Cervantes ◽  
S. P. Upadhyay ◽  
H. Askari-Nasab
Keyword(s):  
Production Planning ◽  
Oil Sands ◽  
Cycle Times ◽  
Oil Sands Mining

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.

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