Optimal work-in-process inventory levels for high-variety, low-volume manufacturing systems

• Main Authors: Srinivasan, Mandyam M., Viswanathan, S.
• Other Authors: Nanyang Business School
• Format: Article
• Language: English
• Published: 2013
• Subjects: DRNTU::Business::Operations management
• Online Access: https://hdl.handle.net/10356/100803; http://hdl.handle.net/10220/18202
• Institution: Nanyang Technological University

This article considers a manufacturing system that operates in a high-variety, low-volume environment, with significant setup times. The goal is to determine the optimal Work-In-Process (WIP) inventory levels for operating the system to meet the required demand for each product. The decision variabl...