A MULTI-PRODUCT MODEL CONSIDERING HOLDING AND PURCHASING COSTS AS AN INCREASING FUNCTION OF ORDER CYCLE TIME

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AFRASIYABI MAHNAZ; SADEGHI AHMAD

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Paper Information

Journal: JOURNAL OF INDUSTRIAL MANAGEMENT STUDIES Year:2017 | Volume:15 | Issue:44 Page(s): 187-208

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Information Journal Paper

Title

A MULTI-PRODUCT MODEL CONSIDERING HOLDING AND PURCHASING COSTS AS AN INCREASING FUNCTION OF ORDER CYCLE TIME

Author(s)

AFRASIYABI MAHNAZ | SADEGHI AHMAD | Issue Writer Certificate

Keywords

ECONOMIC PRODUCTIONQ1

HOLDING COSTSQ1

PARTICLE SWAM OPTIMIZATION ALGORITHMQ1

Abstract

In this paper classical inventory models, EOQ and EPQ, are developed considering holding and purchasing costs as an increasing continuous function of the ordering cycle time. Two models are presented: first one is economic order quantity and the second one is ECONOMIC PRODUCTION quantity. Both models are formulated such that backorder is not permitted. Since the obtained model is a type of nonlinear continuous program, solving it with exact methods is impossible at the reasonable time, hence genetic algorithm and particle swarm optimization algorithm are presented to solve the problems. In addition, to increase effectiveness of algorithms, Taguchi method is used for parameters tuning. Finally a numerical example is presented to comprise two methods and results are illustrated.

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APA: Copy

AFRASIYABI, MAHNAZ, & SADEGHI, AHMAD. (2017). A MULTI-PRODUCT MODEL CONSIDERING HOLDING AND PURCHASING COSTS AS AN INCREASING FUNCTION OF ORDER CYCLE TIME. JOURNAL OF INDUSTRIAL MANAGEMENT STUDIES, 15(44 ), 187-208. SID. https://sid.ir/paper/213249/en

Vancouver: Copy

AFRASIYABI MAHNAZ, SADEGHI AHMAD. A MULTI-PRODUCT MODEL CONSIDERING HOLDING AND PURCHASING COSTS AS AN INCREASING FUNCTION OF ORDER CYCLE TIME. JOURNAL OF INDUSTRIAL MANAGEMENT STUDIES[Internet]. 2017;15(44 ):187-208. Available from: https://sid.ir/paper/213249/en

IEEE: Copy

MAHNAZ AFRASIYABI, and AHMAD SADEGHI, “A MULTI-PRODUCT MODEL CONSIDERING HOLDING AND PURCHASING COSTS AS AN INCREASING FUNCTION OF ORDER CYCLE TIME,” JOURNAL OF INDUSTRIAL MANAGEMENT STUDIES, vol. 15, no. 44 , pp. 187–208, 2017, [Online]. Available: https://sid.ir/paper/213249/en

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