An EPQ Model with Unit Production Cost and Set-Up Cost as Functions of Production Rate | Zendy

Behrouz Afshar-Nadjafi | Zendy

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An EPQ Model with Unit Production Cost and Set-Up Cost as Functions of Production Rate

Author(s) -

Behrouz Afshar-Nadjafi

Publication year - 2013

Publication title -

modelling and simulation in engineering

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 0.264

H-Index - 20

eISSN - 1687-5591

pISSN - 1687-5605

DOI - 10.1155/2013/727685

Subject(s) - economic production quantity , production (economics) , production rate , set (abstract data type) , unit (ring theory) , function (biology) , mathematical optimization , production cost , economics , computer science , mathematics , microeconomics , industrial engineering , engineering , mechanical engineering , programming language , mathematics education , evolutionary biology , biology

Extensive research has been devoted to economic production quantity (EPQ) problem. However, no attention has been paid to problems where unit production and set-up costs must be considered as functions of production rate. In this paper, we address the problem of determining the optimal production quantity and rate of production in which unit production and set-up costs are assumed to be continuous functions of production rate. Based on the traditional economic production quantity (EPQ) formula, the cost function associated with this model is proved to be nonconvex and a procedure is proposed to solve this problem. Finally, utility of the model is presented using some numerical examples and the results are analyzed

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