Optimizing a production system with a fixed delivery schedule

Optimizing a production system with a fixed delivery schedule

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Article ID: iaor1997842
Country: United Kingdom
Volume: 47
Issue: 7
Start Page Number: 954
End Page Number: 960
Publication Date: Jul 1996
Journal: Journal of the Operational Research Society
Authors:
Keywords: inventory
Abstract:

This note considers a model in which a manufacturing company purchases a raw material, manufacturers a product (at a finite rate) and ships a fixed quantity of the product to a single customer at fixed and regular intervals of time. as specified by the customer. In general there are several shipments made during each production run. The objective is to determine a purchasing and production schedule which minimixes the total cost of purchasing, manufacturing and stockholding. It extends previously published work by considering the possibility that a single raw material purchase provides stock for several production runs or that several raw material purchases provide stock for a single production run.

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