The Multi-Item Setup-Reduction Investment-Allocation Problem with Continuous Investment-Cost Functions

John P. Leschke · Elliott N. Weiss

26 citations0/0 files storedManagement Science

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Supply Chain and Inventory Management Management and Optimization Techniques Operations Management Techniques

Abstract

In this note, we analyze investment priorities for setup-reduction programs in a multi-product system. We provide an objective function transformation for the model developed by Porteus (Porteus, E. L. 1985. Investing in reduced setups in the EOQ model. Management Sci. 31(8, August) 998–1010.) that permits the use of marginal analysis in both the single- and multiple-item problems. For the multiple-item problem, we show that managers should not reduce the setup for each product to its optimum in sequential order. This is in contrast to recommendations found in the existing literature.

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