ECONOMIC PRODUCTION RUN LENGTH AND WARRANTY PERIOD FOR PRODUCT WITH WEIBULL LIFETIME
Chung-Ho Chen ()
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Chung-Ho Chen: Department of Management and Information Technology, Southern Taiwan University, 1 Nan-Tai Street, Yung-Kang City Tainan 710, Taiwan
Asia-Pacific Journal of Operational Research (APJOR), 2008, vol. 25, issue 06, 753-764
Abstract:
Traditional economic manufacturing quantity (EMQ) model addressed the perfect production for product. However, there possibly exists the defective product in the production process. In this paper, we present a modified EMQ model with shortage based on considering the product revenue and the inventory cost. The economic production run length, the maximum shortage level, and the optimal warranty period are simultaneously determined for obtaining the maximum expected total profit per year. The numerical example and the sensitivity analysis are further provided for illustration.
Keywords: Economic Manufacturing Quantity (EMQ); warranty period; production run length (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:wsi:apjorx:v:25:y:2008:i:06:n:s0217595908001997
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DOI: 10.1142/S0217595908001997
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