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Article
Publication date: 1 June 1992

A. Gunasekaran, S.K. Goyal, T. Martikainen and P. Yli‐Olli

In any organization, the information relevant to the problem areais essential in making decisions. The top management makes decisionslike expansion of the plant…

Abstract

In any organization, the information relevant to the problem area is essential in making decisions. The top management makes decisions like expansion of the plant, automation, recruitment of senior personnel and diversification of products, etc. There are many kinds of tools or methods available to analyse these problem areas. Among these, turnover rate is useful for many purposes, especially in evaluating the performance of an organization. Here, the turnover rate is considered in order to identify the effect of the number of types of products or product mix on the performance of a manufacturing system. It can be defined as the ratio of average demand to average inventory level. The model presented discusses the effect of the number of products/product mix on the turnover rate of a production system when the appropriate market value of the products is considered. The turnover rate discussed is based on the economic production quantity (EPQ) and the manufacturing cycle time of each product. An example is presented to explain the application of the model.

Details

International Journal of Operations & Production Management, vol. 12 no. 6
Type: Research Article
ISSN: 0144-3577

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Article
Publication date: 1 January 1975

A.G. Slater

The economy has recently gone through a period of industrial expansion coupled with high inflation where industry has tended to grow out of its problems by a combination…

Abstract

The economy has recently gone through a period of industrial expansion coupled with high inflation where industry has tended to grow out of its problems by a combination of increases in output and higher prices. These policies, however, at a certain stage in the development will approach the limits to economic growth, and industry will find that a number of severe problems appear simultaneously. This leads to a period of concentration and economic decline where traditionally industry looks to the Government for relief and assistance; but it could be argued that instead they should consider a critical look at their own patterns of operation. If industry could eliminate the inefficient and ineffective elements in the structure, and concentrate upon improving the quality of their operation, then it is possible that policies adopted for economic survival will lead to growth and expansion. One way in which improvements could be made in the industrial structure is by streamlining the logistics system.

Details

Management Decision, vol. 13 no. 1
Type: Research Article
ISSN: 0025-1747

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Article
Publication date: 11 September 2011

Er‐shun Pan, Yao Jin and Ying Wang

The purpose of this paper is to develop an extensive economic production quantity (EPQ) model on the basis of previous research. Considering an imperfect three‐state…

Abstract

Purpose

The purpose of this paper is to develop an extensive economic production quantity (EPQ) model on the basis of previous research. Considering an imperfect three‐state production process, this paper makes contributions to an integrated model combining conceptions of quality loss and design of control chart based on EPQ model. The objective is to minimize the total production cost with the determination of EPQ and design parameters of control chart subjected to quality loss and other process costs.

Design/methodology/approach

In this paper, imperfect process is defined as a three‐state process, and the quality cost corresponding to each state contributes to the eventual total expected cost formulation. Control chart is used to monitor the shift from the target value within whole process and its control limits are set to be related to the quality cost.

Findings

The proposed integrated model conforms more closely to the real situation of production process considering the process shift as a random variable.

Practical implications

Numerical computation and sensitivity analysis through a case study are presented to demonstrate the applications of the model.

Originality/value

Few research efforts investigate an integrated model considering EPQ, control chart and quality loss simultaneously. In particular, compared with the former researches, the process shift, due to which the quality cost incurs, is considered as a random variable in this paper.

Details

Journal of Manufacturing Technology Management, vol. 22 no. 7
Type: Research Article
ISSN: 1741-038X

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Article
Publication date: 1 December 1993

S.K. Goyal, A. Gunasekaran, T. Martikainen and P. Yli‐Olli

Presents a mathematical model for determining Economic ProductionQuantity (EPQ) in a multistage flow‐shop production system for the casewhere the demand for items per unit…

Abstract

Presents a mathematical model for determining Economic Production Quantity (EPQ) in a multistage flow‐shop production system for the case where the demand for items per unit time is deterministic and the planning horizon is finite. Solves an example problem to illustrate the model.

Details

International Journal of Operations & Production Management, vol. 13 no. 12
Type: Research Article
ISSN: 0144-3577

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Article
Publication date: 29 November 2018

Amir Karbassi Yazdi, Mohamad Amin Kaviani, Amir Homayoun Sarfaraz, Leopoldo Eduardo Cárdenas-Barrón, Hui-Ming Wee and Sunil Tiwari

The purpose of this paper is to develop a multi-item economic production quantity (EPQ) strategy under grey environment and space constraint. Since the “demand” cannot be…

Abstract

Purpose

The purpose of this paper is to develop a multi-item economic production quantity (EPQ) strategy under grey environment and space constraint. Since the “demand” cannot be predicted with certainty, it is assumed that data behave under grey environment and compare the proposed inventory model with other studies using crisp or fuzzy environments.

Design/methodology/approach

This paper is to optimise the cycle time and total cost of the multi-item EPQ inventory model. For this purpose, the Lagrangian coefficient is used to solve the constrained optimisation problem. The grey relational analysis approach and grey data are applied in developing the EPQ inventory model.

Findings

The results are compared with the analysis using crisp and fuzzy data. Sensitivity analysis is done to illustrate the effect of parameter variations on the optimal solution. The results of the study demonstrate that crisp data outperform the other two data in all scales problems in terms of cycle time and cost; grey data perform better in all scales problems than fuzzy data.

Originality/value

The contribution of this research is the use of grey data in developing the EPQ inventory model with space constraint.

Details

Grey Systems: Theory and Application, vol. 9 no. 1
Type: Research Article
ISSN: 2043-9377

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Article
Publication date: 1 August 2005

Weng M. Chan, Raafat N. Ibrahim and Paul B. Lochert

The purpose of this paper is to study the interaction of economics of production with process quality, when multiple key quality characteristics are present. Specifically…

Abstract

Purpose

The purpose of this paper is to study the interaction of economics of production with process quality, when multiple key quality characteristics are present. Specifically, the paper aims to analyse the possibility of investing in a production process to reduce its variances and the impact on a multivariate quality loss function.

Design/methodology/approach

A bivariate inventory‐planning model is developed, in which the optimal investment for reducing process variances and the optimal lot size are jointly determined. A case study with industrial data is presented to illustrate the possible solution procedures and the potential advantages of the proposed model.

Findings

It is found that by using the previous approaches to analyse the interaction between the economics of production and process quality, a company will underestimate the cost of quality, especially the expected external failure cost (quality loss), and ultimately invest less into the prevention activities to improve the process.

Originality/value

The proposed model can help managers to compare different production processes and also guide the managers towards better choices for process improvement. To the best of our knowledge, this paper is the first to integrate the economic production quantity (EPQ) problem with the process quality consideration for products with multiple quality characteristics.

Details

International Journal of Quality & Reliability Management, vol. 22 no. 6
Type: Research Article
ISSN: 0265-671X

Keywords

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Article
Publication date: 1 October 1991

Cheng‐Kang Chen and K. Jo Min

Intermediary firms are economic agents that purchase from mostlysmall and numerous independent producers and sell to other firms or tothe public. This article investigated…

Abstract

Intermediary firms are economic agents that purchase from mostly small and numerous independent producers and sell to other firms or to the public. This article investigated how intermediary firms can optimally determine both selling quantity and purchasing price of a product. By incorporating the special structure of intermediary firms′ environments and by modifying the conventional economic order quantity (EOQ) model accordingly, we provide optimal decision rules regarding the selling quantity and purchasing price for intermediary firms under profit maximisation.

Details

International Journal of Operations & Production Management, vol. 11 no. 10
Type: Research Article
ISSN: 0144-3577

Keywords

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Article
Publication date: 29 June 2012

Nita H. Shah, Ajay S. Gor and Chetan A. Jhaveri

The purpose of this paper is to study integrated inventory system and pricing and ordering strategy for vendor‐buyer supply chain system. Here, the vendor offers a trade…

Abstract

Purpose

The purpose of this paper is to study integrated inventory system and pricing and ordering strategy for vendor‐buyer supply chain system. Here, the vendor offers a trade credit to the buyer when the buyer's order quantity exceeds a given pre‐specified quantity. Therefore, to incorporate the concept of vendor‐buyer integration and trade credit linked, the authors analyze the model to determine the optimal strategy for an integrated vendor‐buyer inventory system under the condition of credit linked to the order quantity when demand is quadratic.

Design/methodology/approach

A mathematical model for integrated inventory system is developed when demand rate is increasing function of the time and decreasing function of the retail price. By analyzing the total channel profit function, the authors developed some useful results to characterize the optimal solution and provide an iterative algorithm to find the retail price, buyer's order quantity and the number of shipments per production run from the vendor to the buyer.

Findings

By developing a solution algorithm, the optimal retail price, order quantity and number of shipments from the vendor to the buyer are provided. Numerical examples and sensitivity analyses are presented to validate the proposed model. Through extensive numerical analyses, it is observed that a longer credit term increases profits of the player for the entire supply chain. The vendor should establish the threshold for allowing trade credit comprehensively to ensure the greatest benefit for both players.

Originality/value

Most of the research articles available in the literature considered the constant demand or linearly changing demand. In this paper, a mathematical model is developed considering time dependent quadratic demand. Very few researchers have investigated joint optimal policy in vendor‐buyer supply chain system, considering trade credit is linked to order quantity, and still there are not many findings on the benefit of integrated policy and trade credit.

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Article
Publication date: 1 July 1990

S.K. Goyal and A. Gunasekaran

A study of the effect of the dynamic process quality control on theeconomics of production and the Total System Cost (TSC) is dealt with. Amathematical model is presented…

Abstract

A study of the effect of the dynamic process quality control on the economics of production and the Total System Cost (TSC) is dealt with. A mathematical model is presented for estimating the Economic Investment in Quality (EIQ) and the Economic Production Quantity (EPQ) in a multi‐stage production‐inventory system. The basic criterion considered for the determination of EIQ and EPQ is the minimisation of TSC. The TSC consists of (1) set‐up cost, (2) in‐process inventory carrying cost; this cost is a function of the processing time and the reset‐up time, (3) finished product inventory carrying cost, (4) reset‐up cost, (5) investment in quality control, and (6) scrappage cost. The feature of this research is to consider the aspect of dynamic process quality control, namely, “quality at the source”, by monitoring the quality of the product as the process continues and stopping the process if it goes out of control. A numerical example is given to illustrate the model.

Details

International Journal of Operations & Production Management, vol. 10 no. 7
Type: Research Article
ISSN: 0144-3577

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Article
Publication date: 11 June 2020

Noura Yassine and Sanjay Kumar Singh

The purpose of this paper is to investigate a supply chain consisting of a producer and multiple suppliers of a type of component needed for the production of a certain…

Abstract

Purpose

The purpose of this paper is to investigate a supply chain consisting of a producer and multiple suppliers of a type of component needed for the production of a certain product. The effects of carbon emission taxes, quality of components and human inspection errors as well as the collaboration among the supply chain members are considered.

Design/methodology/approach

A mathematical model is formulated for a non-collaborative supply chain, and the optimal policy is shown to be the solution of a constraint optimization problem. The mathematical model is modified to the case of a collaborative supply chain and to account for inspection errors. Algorithms are provided, and a numerical example is given to illustrate the determination of the optimal policy.

Findings

This study offers a new conceptual and analytical model that analyzes the production problem from a supply chain perspective. Human resource management practices and environmental aspects were incorporated into the model to reduce risk, optimally select the suppliers and properly maximize profit by accounting for human inspection error as well carbon emission taxes. Algorithms describing the determination of the optimal policy are provided.

Practical implications

This study provides practical results that can be useful to researchers and managers aiming at designing sustainable supply chains that incorporate economic, environmental and human factors.

Originality/value

This study can be useful to researchers and managers aiming for designing sustainable supply chains that incorporate economic and human factors.

Details

Journal of Enterprise Information Management, vol. 34 no. 1
Type: Research Article
ISSN: 1741-0398

Keywords

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