Document Type
Article
Publication Date
11-8-2022
Journal / Book Title
International Journal of Industrial Engineering Computations
Abstract
The present work intends to optimize a hybrid delayed differentiation multiproduct economic production quantity-EPQ model with the scrap and end-products multi-shipment policy. Since the requirements of multi-goods have a standard part in common, our fabrication planning adopts a two-phase delayed differentiation strategy to make the standard components first and produce the finished multi-goods in the second phase. Implementing a partial subcontracting option (with the additional expense) for the standard parts helps us to expedite the required uptime in the first phase. A screening process identifies the faulty items that need to be removed to ensure the in-house production quality. A multi-shipment plan delivers the finished lot of end-products to clients in fixed time intervals. This study optimizes the overall operating expenses of this intra-supply chain system, including fabrication, delivery, and client stock holding, through our proposed modeling, formulation, and optimization procedure. In addition, this study gives a numerical demonstration of the obtained results’ applicability and usefulness to managerial decision-making.
DOI
10.5267/j.ijiec.2022.11.002
Journal ISSN / Book ISBN
ISSN 1923-2934 (Online)
MSU Digital Commons Citation
Chiu, Yuan-Shyi Peter; Lo, Ya-Lei; Yeh, Tsu-Ming; Wang, Yunsen; and Chen, Hung-Yi, "A Hybrid Delayed Differentiation Multiproduct EPQ Model with Scrap and End-products Multi-shipment Policy" (2022). Department of Accounting and Finance Faculty Scholarship and Creative Works. 150.
https://digitalcommons.montclair.edu/acctg-finance-facpubs/150
Published Citation
Chiu, Y., Lo, Y., Yeh, T., Wang, Y & Chen, H. (2023). A hybrid delayed differentiation multiproduct EPQ model with scrap and end-products multi-shipment policy.International Journal of Industrial Engineering Computations , 14(2), 437-450.
Included in
Accounting Commons, Corporate Finance Commons, Finance and Financial Management Commons, Operations and Supply Chain Management Commons
Comments
This is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CCBY) license (http://creativecommons.org/licenses/by/4.0/).