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| Author: | Chen, S. Chung, K. |
| Title: | Inspection error effects on economic selection of target value for a production process |
| Journal: | European Journal of Operational Research
1994 : DEC 8, VOL. 79:2, p. 311-324 |
| Index terms: | PUBLISHING INDUSTRY VALUATION ECONOMICS |
| Language: | eng |
| Abstract: | In a complete inspection plan, every finished item is subject to variable inspection. Items are acceptable if they meet specifications. Otherwise, the items are sold as scrap at a reduced price. This paper presents an economic model to determine the most profitable target value for a production process with consideration of inspection error. As expected, the model without error consideration is the special case of our model when inspection precision level approaches infinity. |
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