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A HEURISTIC PROCEDURE FOR DETERMINING IN‐PROCESS INVENTORIES
Author(s) -
Davis K. Roscoe,
Taylor Bernard W.
Publication year - 1978
Publication title -
decision sciences
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.238
H-Index - 108
eISSN - 1540-5915
pISSN - 0011-7315
DOI - 10.1111/j.1540-5915.1978.tb00734.x
Subject(s) - computer science , heuristic , process (computing) , key (lock) , work (physics) , operations research , work in process , production (economics) , inventory theory , industrial engineering , inventory control , operations management , mathematics , engineering , economics , artificial intelligence , macroeconomics , operating system , mechanical engineering , computer security
Most prior studies that examine in‐process inventory requirements associated with a manufacturing facility employ an optimizing algorithm; this article proposes a heuristic procedure for determining such requirements. A procedure is given for determining “active” and “banked” work‐in‐process requirements. The two are combined to give total in‐process requirements. A key factor presented in the paper is the relationship between in‐process inventory requirements and the “balancing” of a production facility. Most prior researchers examine these problems independently. It will be shown that both problems can be resolved concurrently. The concepts are applicable to both an existing as well as a new manufacturing facility.