Determining economic inventory policies in a multi-stage just-in-time production system

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

Research output: Contribution to journalArticlepeer-review

9 Scopus citations

Abstract

New manufacturing concepts, such as just-in-time (JIT) production and quality at source tremendously impact on productivity and quality in many manufacturing systems. In order to implement the JIT manufacturing concept, one has to analyze its consequence on lot-sizing and work-in-process inventory. Realising the significance of modelling such a situation, a mathematical model is proposed to establish the relationship between the quality at source, work-in-process inventory and lot-sizes in a multi-stage JIT production system. The model along with a search method is used to determine the economic production quantities (EPQs) by minimizing the total system cost.

Original languageEnglish (US)
Pages (from-to)531-542
Number of pages12
JournalInternational Journal of Production Economics
Volume30-31
Issue numberC
DOIs
StatePublished - Jul 1993

All Science Journal Classification (ASJC) codes

  • Business, Management and Accounting(all)
  • Economics and Econometrics
  • Management Science and Operations Research
  • Industrial and Manufacturing Engineering

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