Investment policy for multiple product setup reduction under budgetary and capacity constraints

Article Abstract:

Investigation into the influence that setup cost and time reduction exert on a batch manufacturing system in terms of scheduling and production sizes incorporates assumptions not usually included in earlier research such as budgetary and capacity constraints. A common cycle method is used for the exercise and a model that is of the non-linear limited optimization type is formulated. An appropriate problem-solving algorithm using the Lagrangian approach is also derived.

Inventory Control, Models

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Multi-item inventory policy under limited storehouse capacity

Article Abstract:

A study was conducted to examine staggering ordering time points for inventory items. The study considers multi-inventory policy under limited storehouse capacity and focuses on the application of the Lagrange method. Results show that the optimal policy under free restriction presents the best inventory policy for unlimited storehouse capacity. In addition, the Lagrange method applies even under conditions of tight contraints.

Research, Usage, Lagrange equations

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Similar abstracts:

• Abstracts: Inventory policy with time-dependent setup cost. A stochastic inventory problem with piecewise quadratic costs

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