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Author:Tang, K.
Gong, L.
Chang, D.-S.
Title:Optimal process control policies under a time-varying cost structure
Journal:European Journal of Operational Research
2003 : AUG, VOL. 149:1, p. 197-210
Index terms:Inventory control
Quality
Costs
Perishable goods
Language:eng
Abstract:Quality experts have recognized two types of quality costs resulting from failure of control: internal and external failure costs of control. The authors develop a process control model under a time-varying cost structure, based on internal and external failure costs. Using the model, the authors also study the process control policies when the value of the product may decrease over time. They consider two forms of product perishability. This firs is an exponental product value drop, and the second is a fixed life product life.
SCIMA record nr: 249826
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