Journal
INTERNATIONAL JOURNAL OF PRODUCTION ECONOMICS
Volume 122, Issue 2, Pages 725-740Publisher
ELSEVIER SCIENCE BV
DOI: 10.1016/j.ijpe.2009.06.040
Keywords
Flow line; Buffer allocation; Profit maximization; In-process inventory; Nonlinear optimization
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In this paper, we present an effective algorithm for maximizing profits through buffer size optimization for production lines. We consider both buffer space cost and average inventory cost with distinct cost coefficients for different buffers, and we include a nonlinear production rate constraint. To solve the problem, a corresponding unconstrained problem is introduced and a nonlinear programming approach is adopted. Numerical results are provided to show the efficiency and accuracy of our algorithm for both short and long lines. (C) 2009 Elsevier B.V. All rights reserved.
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