Effects of maintenance policy on an imperfect production system under trade credit

Yu‐Chung Tsao · Tsung-Hui Chen

22 citations0/0 files storedInternational Journal of Production Research

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Supply Chain and Inventory Management Reliability and Maintenance Optimization Management and Optimization Techniques

Abstract

The traditional production model development assumed that all products are perfect quality and did not consider maintenance, which is far from reality. In practice, the production process may shift randomly from an in-control state to an out-of-control state during a production run, i.e. process deterioration. This paper considers both preventive maintenance and corrective maintenance which are used to increase the system reliability. The objective of this paper is to determine the optimal production run time and maintenance frequency while minimising the total cost under process deterioration and trade credit. This paper develops a theorem and an algorithm to solve the problem described, provides numerical analysis to illustrate the proposed solution procedure, and discusses the impact of various system parameters. A real case of hi-tech manufacturer is used to verify the model. It predicts a 10.36% decrease in total cost if the preventive maintenance decision is considered.

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References

2003The optimal cycle time for EPQ inventory model under permissible delay in payments 2006A study on an inventory model for non-instantaneous deteriorating items with permissible delay in payments 2008An EOQ model with noninstantaneous receipt and exponentially deteriorating items under two-level trade credit 2009An economic production lot size model in an imperfect production system 2008Optimal manufacturer’s replenishment policies in the EPQ model under two levels of trade credit policy 2006Optimal retailer’s replenishment decisions in the EPQ model under two levels of trade credit policy 2011Economic order quantity model with trade credit financing for non-decreasing demand 2007An EOQ model under retailer partial trade credit policy in supply chain

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2022An inventory management for global supply chain through reworking of defective items having positive inventory level under multi-trade-credit-period 2011A note on the price of trade credit 2021Two-phase deteriorated supply chain model with variable demand and imperfect production process under two-stage credit financing 2013A piecewise nonlinear optimization for a production-inventory model under maintenance, variable setup costs, and trade credits

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