Evaluation of EPQ models with Imperfect. (c2012)

Abstract

The main objective of the research is to evaluate the recently developed economic production models with imperfect quality items of raw material and consider their extensions to the case where the percentage of imperfect quality items is a random variable having a known probability density function. The deterministic models will be evaluated by examining the effects of the parameters on the optimal solution. The probabilistic models will be simulated using various density functions for the percentage of imperfect quality items to compare the theoretical and the computational solutions. The results will be used to develop an economic production model having an optimal ordering policy of raw material.