Study on the Optimal Inventory Modelling of Productions Management and Operations Research

• Main Authors: Li-Fen Chang, 張麗芬
• Other Authors: Shy-Der Lin
• Format: Others
• Language: zh-TW
• Published: 2010
• Online Access: http://ndltd.ncl.edu.tw/handle/3fy9u5

博士 === 中原大學 === 應用數學研究所 === 98 === The traditional EPQ (Economic Production Quantity) model assumes that the replenishments of raw materials are instantaneous. In practical, business enterprises buy all of the raw materials what they need at the beginning of a cycle time. So, the stock holding cost of raw materials should be counted into the total relevant costs. Besides, on the concept of financial analysis, the managers need to use the concept of time value of money to calculate the present value at same time to compare different cases. In recent years, because of the competition in market and the rapid revision of products , the cycle length of products become shorten and given up.In this research, we assume that in the condition of buying all of the materials at the beginning of a cycle time. First of all, we discuss the inventory model of considering the time value of money in the infinite planning horizon. And then develop the EPQ model to a random planning horizon and then find the present value of the model. Finally, we calculate the present value that does not the salvage of remnant inventories into consideration under a random planning horizon. From above three different models, we minimize the total relevant costs to find the optimal cycle time and numerical examples are included to prove the results in models.