Joint effect of stock threshold level and production policy on an unreliable production environment |
| |
Authors: | Tulika Chakraborty Satyaveer S Chauhan Bibhas C Giri |
| |
Institution: | 1. Department of Mathematics, Bethune College, Calcutta University, Kolkata 700 006, India;2. Department of Decision Sciences and Management Information Systems, John Molson School of Business, Concordia University, Montreal, QC, Canada H3C 4T6;3. Department of Mathematics, Jadavpur University, Kolkata 700 032, India |
| |
Abstract: | In this article we develop an economic manufacturing quantity (EMQ) model subject to stochastic machine breakdown, repair and stock threshold level (STL). Instead of constant production rate, in this model production rate is considered as a decision variable. Since, the stress of the machine depends on the production rate, failure rate of the machine will be a function of the production rate. Again, in this article consideration of safety stock in all existing literature is replaced by the concept of stock threshold level (STL). Further, extra capacity of the machine is considered to buffer against the possible uncertainties of the production process where machine capacity is predetermined. The basic model is developed under general failure and general repair time distributions. Since, the assumption of variable production rate makes the objective function quite complex, so main emphasis is given on computational methodology to solve the present problem. We suggest two computational algorithms for the determination of production rate and stock threshold level which minimize the expected cost rate in the steady state. Finally, through numerical examples we illustrate the key insights of our model from managerial point of view. |
| |
Keywords: | |
本文献已被 ScienceDirect 等数据库收录! |
|