Journal of industrial engineering international · 2012 · 17 citations · 13 references
Supply Chain OptimizationEngineeringIndustrial EngineeringOperations ResearchEconomic Production QuantityInventory ManagementMulti-product Epq ModelInventory ControlGenetic AlgorithmSystems EngineeringLogisticsQuantitative ManagementEpq ModelEconomicsDesignSupply Chain ManagementProduction PlanningIndustrial DesignDefective ItemsBusinessProduct Modeling
Springer would like to retract the article "The Hafshejani et al." published in Journal of Industial Engineering International (2012, 8:27). The article was mistakenly published due to a workflow error although it had not been accepted by the Editorial Board of the journal. Springer accepts full responsibility for this and would like to apologize to the authors of the article as well as the Editors and readers of the journals. The Economic Production Quantity (EPQ) model is often used in the manufacturing sector to assist firms in determining the optimal production lot size that minimizes overall production-inventory costs. There are some assumptions in the EPQ model that restrict this model for real-world applications. Some of these assumptions are (1) infinite space of warehouse, (2) all of the produced items are perfect, and (3) only one type of goods is produced. In this paper, we develop the EPQ model by assuming that each produced lot contains some imperfect items and scraps. In addition, we have more than one kind of products along with warehouse space limitations. Under these conditions, we formulate the problem as a non-linear programming model and propose a genetic algorithm to solve it. At the end, we present a numerical example to illustrate the applications of the proposed methodology and identify the optimal value of the parameters of the genetic algorithm.
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