Combining a cost-benefit algorithm for ECTEP into the product structure diagram Online publication date: Thu, 10-Mar-2005
by Yuan-Shyi Peter Chiu
International Journal of Materials and Product Technology (IJMPT), Vol. 22, No. 4, 2005
Abstract: This study presents a cost-benefit algorithm for Expediting the Completion Time of End Product (ECTEP) in the Product Structure Diagram (PSD) using the Critical Path Method (CPM) and the time-costing method. The classic PSD provides essential information for the consequent Material Requirement Planning (MRP). Selecting an appropriate acquisition method (either a particular manufacturing process or a specific speed of assembly or a specific supplier) for each component part is one of the early tasks faced by a product/process design team and it is critical because the resulting decisions are then translated into the PSD and its subsequent MRP. This study incorporates a cost-benefit decision procedure into the PSD for determining the optimal component procuring alternatives that not only expedites the completion time of the end product but also maximises the benefits. A numerical example is provided to demonstrate its practical usage.
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