Optimal production lots for items with imperfect production and screening processes without using derivatives Online publication date: Fri, 26-Jun-2015
by Hui-Ming Teng; Ping-Hui Hsu
International Journal of Management and Enterprise Development (IJMED), Vol. 14, No. 2, 2015
Abstract: Complicated traditional computing processes take the first and second order derivatives to obtain the EOQ/EPQ formula that are difficult to understand. This study proposes an EPQ model for imperfect items, which utilises a simple computing method without using derivatives and considers different screening rates to obtain the optimal production lots. The analytical method for sensitivity analysis is examined. A numerical example is provided to illustrate the proposed model. Using the proposed model, researchers who are unfamiliar with calculus may be able to find a solution to procedures with inventory problems more easily.
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