![Sample our Mathematics & Statistics journals, sign in here to start your FREE access for 14 days]({"type":"image" , "src" : "/sda/5943/TOC-Subject-Sample-2021-Mathematics-Statistics.jpg"})
Abstract
The impact of processing time and related costs on economic lot sizing in a manufacturing environment when they can be varied through process control is explored in this paper. For a given setup cost and carrying cost, the optimal lot size to minimize the total stocking cost, in our model, will be a function of process variables subject to process, in-process storage, and demand rate constraints. An approach is presented for finding the optimal lot size in this context when the manufacturing cost per unit of product is a quadratic or linear function of processing time.
