An integrated production inventory model of deteriorating items subject to random machine breakdown with a stochastic repair time

Luong, H.; Karim, R.

Growing Science » International Journal of Industrial Engineering Computations » An integrated production inventory model of deteriorating items subject to random machine breakdown with a stochastic repair time

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International Journal of Industrial Engineering Computations

ISSN 1923-2934 (Online) - ISSN 1923-2926 (Print) Quarterly Publication Volume 8 Issue 2 pp. 217-236 , 2017

An integrated production inventory model of deteriorating items subject to random machine breakdown with a stochastic repair time Pages 217-236 Download PDF

Authors: Huynh Trung Luong, Rubayet Karim

DOI: 10.5267/j.ijiec.2016.9.004

Keywords: Production- inventory model, Continuous review system, Stochastic repair time, Deteriorating item, Optimization

Abstract: In a continuous manufacturing environment where production and consumption occur simultaneously, one of the biggest challenges is the efficient management of production and inventory system. In order to manage the integrated production inventory system economically it is necessary to identify the optimal production time and the optimal production reorder point that either maximize the profit or minimize the cost. In addition, during production the process has to go through some natural phenomena like random breakdown of machine, deterioration of product over time, uncertainty in repair time that eventually create the possibility of shortage. In this situation, efficient management of inventory & production is crucial. This paper addresses the situation where a perishable (deteriorated) product is manufactured and consumed simultaneously, the demand of this product is stable over the time, machine that produce the product also face random failure and the time to repair this machine is also uncertain. In order to describe this scenario more appropriately, the continuously reviewed Economic Production Quantity (EPQ) model is considered in this research work. The main goal is to identify the optimal production uptime and the production reorder point that ultimately minimize the expected value of total cost consisting of machine setup, deterioration, inventory holding, shortage and corrective maintenance cost.

How to cite this paper

 Luong, H & Karim, R. (2017). An integrated production inventory model of deteriorating items subject to random machine breakdown with a stochastic repair time.International Journal of Industrial Engineering Computations , 8(2), 217-236.

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