A Model for Integrated Procurement-Production Systems

S.K. Goyal · S.G. Deshmukh · A. Subash Babu

11 citations0/0 files storedJournal of the Operational Research Society

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Supply Chain and Inventory Management Management and Optimization Techniques Scheduling and Optimization Algorithms

Abstract

In this paper, a multistage, single-product serial batch-production system is considered in which the demand is deterministic and cost factors, viz. inventory carrying, ordering, set-up, etc., are known. The objective is to minimize the total variable cost. A model is suggested which combines the purchasing policy of the raw materials and the production policy of the finished product. An experimental procedure is carried out to compare the model against a benchmark providing a lower bound for the total variable costs. The model is also compared with an instantaneous production-rate case. The results suggest that the model offers an interesting scope for heuristic procedures. The possible application domain of the model is also discussed.

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References

2004Optimal Policies for a Multi-Echelon Inventory Problem 1973Economic Lot Size Determination in Multi-Stage Assembly Systems 1975Optimal and System Myopic Policies for Multi-Echelon Production/Inventory Assembly Systems 1977An Integrated Inventory Model for a Single Product System 1982Note—On the Optimality of Integer Lot Size Ratios in “Economic Lot Size Determination in Multi-Stage Assembly Systems”1979Integrated Production Inventory Policies for Multistage Multiproduct Batch Production Systems 1987An integrated inventory model for a single product and its raw materials 1984The Effect Of Two Classes Of Process Organizations On Multi-Stage Production / Inventory Systems

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