| Article ID: | iaor19911538 |
| Country: | Netherlands |
| Volume: | 21 |
| Issue: | 2 |
| Start Page Number: | 111 |
| End Page Number: | 115 |
| Publication Date: | May 1991 |
| Journal: | Engineering Costs and Production Economics |
| Authors: | Goyal S.K. |
In this paper a search procedure is suggested for determining the economic manufacturing policy for a product and the economic ordering policy for the raw materials required by the product. The objective is to determine an operating policy that minimizes the total relevant cost. An example is solved to illustrate the procedure.