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| Author: | Rajagopalan, S. Swaminathan, J. M. |
| Title: | A Coordinated Production Planning Model with Capacity Expansion and Inventory Management |
| Journal: | Management Science
2001 : NOV, VOL. 47:11, p. 1562- 1580 |
| Index terms: | PRODUCTION PRODUCTION PLANNING INVENTORIES EQUIPMENT MATHEMATICAL PROGRAMMING |
| Language: | eng |
| Abstract: | The authors study a firm producing multiple items in a multiperiod environment where demand for items is known but varies over time with a long-term growth and possible short-term fluctuations. The production equipment is characterized by significant changeover time between the production of different items. While demand growth is gradual, capacity additions are discrete. Therefore, periods immediately following a machine purchase are characterized by excess machine capacity. The authors develop a mathematical programming model and an effective solution approach to determine the optimal capacity acquisition, production and inventory decisions over time. The authors show the effectiveness of the solution approach in terms of solution. |
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