Operations Dept. Seminar

The Economic Production and Pricing Model with Lot-Size-Dependent Production Cost

Sponsored by: Dept. of Operations

Speaker(s): Alireza Kabirian, Cal State Univ-Northridge

Date & Time: Monday, Jan. 13 from 9 a.m. to 10:30 a.m.

In this research, the economic production quantity problem for a single-product single-machine system is extended.  It is assumed that annual demand of the product is a function of price set by manufacturers.  This extension considers sales revenue, inventory and setup costs as well as a variable cost of production which is a function of the lot size.  Several linear and non-linear functions of demand and variable cost are considered and a global solution methodology is present for the models developed.  Newton’s method is used to find local optima and asymptotic convergence of the solution algorithm to a global optimum is proved.  Numerical studies followed by a discussion provide additional insights into the problem.

 


Fee: [Yes/No/Varies]

Contact Information:
Tedda Nathan
Dept. Administrator/Dept. of Operations
txn2@case.edu
216-368-2040
216-368-6249

Location
121 Peter B. Lewis Building
11119 Bellflower Road
Cleveland, OH 44106-7235
United States

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