Article ID: | iaor20072239 |
Country: | Netherlands |
Volume: | 51 |
Issue: | 4 |
Start Page Number: | 693 |
End Page Number: | 697 |
Publication Date: | Dec 2006 |
Journal: | Computers & Industrial Engineering |
Authors: | Omar Mohd, Yeo Ivan |
Keywords: | programming: dynamic |
In many manufacturing systems, the quantity of raw materials needed for production is dependent on the production size. Therefore, it is preferable to unify the optimization of both elements under a single model. Recently, Omar and Smith applied a dynamic programming approach to determine an optimal batch size for the aforementioned model where demand for the product is deterministic and linearly varying with time over a finite planning horizon. However, the said dynamic programming approach is noted to be computational intensive and therefore may not be a desirable optimal solution procedure if a more efficient alternative is present. In this paper, we will explore an analytical solution procedure.