An Analysis of Binomial Yield Production Process considering Salvage Value잔존가치를 고려한 이항수율 생산 프로세스 분석
- Other Titles
- 잔존가치를 고려한 이항수율 생산 프로세스 분석
- Authors
- 최성용; 김진민; 맹주열
- Issue Date
- May-2017
- Publisher
- 한국SCM학회
- Keywords
- Yield management; Binomial yield production process; Normal approximation; Salvage value
- Citation
- 한국SCM학회지, v.17, no.1, pp.13 - 22
- Indexed
- KCI
- Journal Title
- 한국SCM학회지
- Volume
- 17
- Number
- 1
- Start Page
- 13
- End Page
- 22
- URI
- https://scholarworks.bwise.kr/hanyang/handle/2021.sw.hanyang/20329
- DOI
- 10.25052/KSCM.2017.05.17.1.13
- ISSN
- 1598-382X
- Abstract
- We study how to determine the optimal lot size in a production process with binomial yield. First, we review the precedent studies in binomial yield production processes in inventory management literature. In results, an extended new model is presented to consider salvage values for leftover inventories. We initially formulate it as a discrete (unconstrained) optimization model, and then convert it as a corresponding continuous (unconstrained) optimization model by the normal approximation. Finally, we prove the concavity of the model, and examine the impact of salvage value on the optimal lot size. All of these analytical results are also confirmed computationally with the numerical examples generated by Monte Carlo simulation.
- Files in This Item
-
Go to Link
- Appears in
Collections - 서울 경영대학 > 서울 경영학부 > 1. Journal Articles
![qrcode](https://api.qrserver.com/v1/create-qr-code/?size=55x55&data=https://scholarworks.bwise.kr/hanyang/handle/2021.sw.hanyang/20329)
Items in ScholarWorks are protected by copyright, with all rights reserved, unless otherwise indicated.