Effects of time value of money on the EPQ model with the imperfect quality items of raw material

Kassar, Abdul-Nasser; Salameh, Moueen; Bitar, Mokarram

Effects of time value of money on the EPQ model with the imperfect quality items of raw material

Kassar, Abdul-Nasser; Salameh, Moueen; Bitar, Mokarram

URL: http://search.proquest.com/docview/1273888523?pq-origsite=gscholar

Date: 2017-04-05

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Abstract:

In this paper an economic production model that takes into account the effects of imperfect quality items of raw material is extended to incorporate the time value of money. The mathematical model is developed and the optimal production quantity is obtained by maximizing the profit function. Numerical examples are given to illustrate the determination of the optimal solution.

Citation:

Kassar, A. N., Salameh, M., & Bitar, M. (2012, January). Effects of time value of money on the EPQ model with the imperfect quality items of raw material. In Allied Academies International Conference. Academy of Management Information and Decision Sciences. Proceedings (Vol. 16, No. 1, p. 11). Jordan Whitney Enterprises, Inc.