Multiproduct economic lot size models with investment costs for setup reduction and quality improvement

Multiproduct economic lot size models with investment costs for setup reduction and quality improvement

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Article ID: iaor19931739
Country: United Kingdom
Volume: 31
Issue: 3
Start Page Number: 691
End Page Number: 703
Publication Date: Mar 1993
Journal: International Journal of Production Research
Authors: , ,
Keywords: quality & reliability
Abstract:

Setup time and cost reductions and quality improvements have been key issues in modern manufacturing systems. Advantages of setup time reduction are more significant when a single facility produces multiple products. This paper presents multiproduct capacitated economic production quantity models for a system in which setup reduction and qulity improvement can be achieved with one-time initial investment. Problems for models with a power functional form of the investment costs are formulated as geometric programs, and closed-form solutions for the problems are obtained. Example problems are solved to illustrate the models.

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