An analysis of setup cost reduction in a two stage system with power investment function |
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Authors: | M. Javad Paknejad Farrokh Nasri John F. Affisco |
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Affiliation: | (1) Department of Business Computer Information Systems and Quantitative Methods, Hofstra University, 11550 Hempstead, New York, USA |
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Abstract: | Recently, a framework for analyzing investment decisions as they relate to setup cost reduction in two stage production processes has appeared in the literature. Closed form results were developed for the case of logarithmic investment function. This paper extends the results to the case of power investment function. We present an algorithm for calculating the optimal values of the decision variables. A numerical example is utilized to reveal some interesting aspects of this system. |
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