Setup Reduction in the Economic Production Quantity Model

@inproceedings{Kim1992SetupRI,
  title={Setup Reduction in the Economic Production Quantity Model},
  author={Seung Lae Kim and Jack C. Hayya and Jae-Dong Hong},
  year={1992}
}
We present an analysis of setup cost reduction using the economic production quantity model. The objectives of the paper are to draw conclusions by investigating several classes of setup reduction functions and to provide a general solution procedure. We examine the trade-offs between reduced inventories and increased capital investment and show that given any hypothetical setup cost reduction function, we can determine whether the total relevant cost can be reduced and how the reduction is… CONTINUE READING

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