Influence of Portfolio Management in Decision-Making
Purpose: Today’s manufacturing facilities are challenged by highly customized products and just in time manufacturing and delivery of these products. In this study, a batch scheduling problem has been addressed to enable on-time completion of customer orders in a lean manufacturing environment. The...
| Autores: | , |
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| Tipo de recurso: | artículo |
| Fecha de publicación: | 2018 |
| País: | España |
| Institución: | Universitat Politècnica de Catalunya (UPC) |
| Repositorio: | UPCommons. Portal del coneixement obert de la UPC |
| Idioma: | inglés |
| OAI Identifier: | oai:upcommons.upc.edu:2117/123789 |
| Acceso en línea: | https://hdl.handle.net/2117/123789 https://dx.doi.org/10.3926/jiem.2464 |
| Access Level: | acceso abierto |
| Palabra clave: | Portfolio management Decision-making Project management Strategic management Gestió de cartera Decisió, Presa de Gestió de projectes Àrees temàtiques de la UPC::Economia i organització d'empreses |
| Sumario: | Purpose: Today’s manufacturing facilities are challenged by highly customized products and just in time manufacturing and delivery of these products. In this study, a batch scheduling problem has been addressed to enable on-time completion of customer orders in a lean manufacturing environment. The problem is optimizing the partitioning of product components into batches and scheduling of the resulting batches where each customer order is received as a set of products made of various components. Design/methodology/approach: Three different mathematical models for minimization of total earliness and tardiness of customer orders are developed to provide on-time completion of customer orders and also, to avoid excess final product inventory. The first model is a non-linear integer programming model whereas the second is a linearized version of the first. Finally, to solve larger sized instances of the problem, an alternative linear integer model is presented. Findings: Computational study using a suit set of test instances showed that the alternative linear integer model is able to solve all test instances in varying sizes within quite shorter computer times compared to the other two models. It has also been showed that the alternative model is able to solve moderate sized real-world problems. Originality/value: The problem under study differentiates from existing batch scheduling problems in the literature owing to the inclusion of new circumstances that are present in real-world applications. Those are: customer orders consisting of multi-products made of multi-parts, processing of all parts of the same product from different orders in the same batch, and delivering the orders only when all related products are completed. This research also contributes to the literature of batch scheduling problem by presenting new optimization models. |
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