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Author:Hadjinicola, G.C.
Soteriou, A.C.
Title:Reducing the cost of defects in multistage production systems: a budget allocation perspective
Journal:European Journal of Operational Research
2003 : MAR 16, VOL. 145:3, p. 621-634
Index terms:Budget
Production models
Resource allocation
Language:eng
Abstract:Manufacturing firms are frequently concerned with operational improvements of their production system. As such, firms are often called to address the following question: how should they allocate their limited capital resources to the various stages of a multistage production system in order to improve the yield of the production stages and, at the same time, minimize the annual cost incurred from defects? In this paper, the authors provide a mathematical foundation for managerial decision making, which addresses this important operational problem.
SCIMA record nr: 246580
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