International Journal of Industrial Engineering & Production Management
Iran University of Science and Technology
Tue, Aug 13, 2024
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Volume 22, Issue 2 (IJIEPM 2011)
2011, 22(2): 181-192 |
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Moslehi G, Rasti Barzoki M, Fathollah Bayati M. The Effect of Inflation and Time Value of Money on Lot Sizing By Considering of Rework in an Inventory Control Model. Journal title 2011; 22 (2) :181-192
URL: http://ijiepm.iust.ac.ir/article-1-662-en.html
URL: http://ijiepm.iust.ac.ir/article-1-662-en.html
Department of Industrial and Systems Engineering, Isfahan University of Technology , moslehi@cc.iut.ac.ir
Abstract: (11407 Views)
One of the assumptions in Economic Production Quantity is that there is no imperfect production. Also the effect of inflation and time value of money is not considered with this model. But the studies show that the consideration of imperfect products in lot sizing or inflation and time value of money is varying the optimal lot size, therefore consideration of these two factors in lot sizing is essential. This paper studies the effect of inflation and time value of money on the EPQ model with rework. Since the total cost relation involves a complicated exponential function, evaluating the optimal point is not a trivial task. The effect of inflation and time value of money was investigated under given sets of values of inflation and discount rates. Computational results indicate that this effect on the model is very important.
Type of Study: Research |
Subject:
Other related Industrial and production reserach subjects in which has direct relation to the state-of-the art of the IE
Received: 2011/09/25 | Published: 2011/08/15
Received: 2011/09/25 | Published: 2011/08/15
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