Economic Production Quantity (EPQ) deteriorating inventory model with machine breakdown and stochastic repair time

Author

Widyadana, Gede Agus ; Wee, Hui Ming

Author_Institution

Dept. of Ind. & Syst. Eng., Chung Yuan Christian Univ., Chungli, Taiwan

fYear

2009

fDate

8-11 Dec. 2009

Firstpage

548

Lastpage

552

Abstract

In recent years, many researchers focus their studies on developing practical economic production quantity (EPQ) models. This paper develops an EPQ deteriorating item model with machine breakdown and stochastic repair time. A numerical example and sensitivity analysis are given to illustrate the theory. The results show that production rate and demand rate are the most sensitive parameters to the optimal production period, and demand rate is the most sensitive parameter to the optimal total cost.

Keywords

economics; inventory management; stochastic processes; economic production quantity; inventory model; machine breakdown; sensitivity analysis; stochastic repair time; Costs; Electric breakdown; Industrial economics; Marketing and sales; Mathematical model; Production facilities; Production systems; Sensitivity analysis; Stochastic processes; Stochastic systems; EPQ; breakdown machine; deteriorating item; stochastic repair time;

fLanguage

English

Publisher

ieee

Conference_Titel

Industrial Engineering and Engineering Management, 2009. IEEM 2009. IEEE International Conference on

Conference_Location

Hong Kong

Print_ISBN

978-1-4244-4869-2

Electronic_ISBN

978-1-4244-4870-8

Type

conf

DOI

10.1109/IEEM.2009.5373279

Filename

5373279