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
1923-2934
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
