Abstract
This study develops a single-machine manufacturing system for multi-product with defective items and delayed payment policy. Contradictory to the literature limited production capacity and partial backlogging are considered for more realistic result. The objective of this research is to obtain the optimal cycle length, optimal production quantity, and optimal backorder quantity of each product such that the expected total cost is minimum. The model is solved analytically. Three efficient lemmas are developed to obtain the global optimum solution of the model. An improved algorithm is designed to obtain the numerical solution of the model. An illustrative numerical example and sensitivity analysis are provided to show the practical usage of proposed method.
Original language | English |
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Pages (from-to) | 1273-1296 |
Number of pages | 24 |
Journal | Journal of Industrial and Management Optimization |
Volume | 16 |
Issue number | 3 |
DOIs | |
Publication status | Published - 2020 May 1 |
Bibliographical note
Publisher Copyright:© 2020, American Institute of Mathematical Sciences.
All Science Journal Classification (ASJC) codes
- Business and International Management
- Strategy and Management
- Control and Optimization
- Applied Mathematics