A software development for establishing optimal production lots and its application in academic and business environments

The recent global economic downturn has increased an already perceived need in organizations for cost savings. To cope with such need, companies can opt for different strategies. This paper focuses on optimizing processes and, more specifically, determining the optimal lot production. To determine t...

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Bibliographic Details
Published in:Ingeniería e investigación 2014-12, Vol.34 (3), p.81-86
Main Authors: Valencia, J. E, Lamban, M. P, Royo, J. A, Díaz, J. A, Canto
Format: Article
Language:English
Subjects:
Cost analysis
ENGINEERING, MULTIDISCIPLINARY
EOQ
EOQ/EPQ model
EPQ model
Logistics
Lot size
Parameter optimization
software development
Software engineering
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Summary:The recent global economic downturn has increased an already perceived need in organizations for cost savings. To cope with such need, companies can opt for different strategies. This paper focuses on optimizing processes and, more specifically, determining the optimal lot production. To determine the optimal lot of a specific production process, a new software was developed that not only incorporates various productive and logistical elements in its calculations but also affords users a practical way to manage the large number of input parameters required to determine the optimal batch. The developed software has not only been validated by several companies, both Spanish and Mexican, who achieved significant savings, but also used as a teaching tool in universities with highly satisfactory results from the point of view of student learning. A special contribution of this work is that the developed tool can be sent to the interested reader free of charge upon request.
ISSN:0120-5609
2248-8723
DOI:10.15446/ing.investig.v34n3.41578