Inventory Model with Zero Defective Smart Production System-Reference-Cited by-同舟云学术

Inventory Model with Zero Defective Smart Production System

Published:2022-08-17 Issue: Volume: Page:
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Author:

Miriam Renee¹,Martin Niventha²,Anand M. Clement Joe³

Affiliation:

1. Ph.D. Research Scholar, Department of Mathematics, Madurai Kamaraj University, Madurai, Tamil Nadu

2. Assistant Professor, Department of Mathematics, Arul Anandar College (Autonomous), Karumathur, Madurai, Tamil Nadu

3. Assistant Professor, Department of Mathematics, Mount Carmel College (Autonomous), Bengaluru City University, Bengaluru, Karnataka

Abstract

Abstract A smart production system is characterized by quality productive mechanisms integrated with technology. In this research work, a quality-centered inventory model with the objective of minimizing waste generation is formulated to develop zero defective productive scenarios. In this model, the repairable items are identified and classified into batches based on 4 levels of quality. Level 1 compromises products that are less than 25% defective. Level 2 consists of the remaining products which are up to 50% defective. Level 3 and Level 4 consist of products that are up to 75% and 100% defective. The model also comprises quality maintenance cost parameters with demand expressed as the function of quality and market price. The obtained optimal order quantity expression and annual net revenue is validated and sensitively analyzed with numerical data. The proposed model shall be extended with the inclusion of product distribution entities with respective cost parameters to formulate a more comprehensive quality and eco-centric inventory model.Mathematics Subject Classification 90B05, 90B30

Publisher

Research Square Platform LLC

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