2014
DOI: 10.5545/sv-jme.2013.1009
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Optimization of a Product Batch Quantity

Abstract: Companies encounter various challenges when entering the global market, one of the most significant being the calculation of the optimal batch quantity of a product. This paper explains how to calculate the optimal batch quantity using first the basic model, and then the extended model that takes into account the tied-up capital in a production, in addition to the costs of changing the batch and storage costs. There is a case study of calculating the optimal batch quantity using the basic and extended models, … Show more

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Cited by 12 publications
(9 citation statements)
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“…The Lean system has become even a reference model for optimizing production and general performance of larger companies as well as SMEs (Lyonnet et al, 2010;Powell at al., 2013;Belekoukias et al, 2014). Therefore some research works focus in simulation of production processes as well as in material flow and batch quantity optimization (Bozickovic et al 2012;Dordevic et al, 2013;Berlec et al, 2014). Any overproduction, as well as any excess stock is considered to be a source of waste (Ohno, 1988;Womack and Jones, 2003;Drew et al, 2004) and only producing what is really needed by the customer is one of the major principles of Lean Manufacturing.…”
Section: Introductionmentioning
confidence: 98%
“…The Lean system has become even a reference model for optimizing production and general performance of larger companies as well as SMEs (Lyonnet et al, 2010;Powell at al., 2013;Belekoukias et al, 2014). Therefore some research works focus in simulation of production processes as well as in material flow and batch quantity optimization (Bozickovic et al 2012;Dordevic et al, 2013;Berlec et al, 2014). Any overproduction, as well as any excess stock is considered to be a source of waste (Ohno, 1988;Womack and Jones, 2003;Drew et al, 2004) and only producing what is really needed by the customer is one of the major principles of Lean Manufacturing.…”
Section: Introductionmentioning
confidence: 98%
“…PBC approach to production planning is different from other planning approaches since it focuses more on time factor (period length) than on some other factor which influences manufacturing lead time, like the batch size for instance which is seen in [25]. Having in sight the PBC system, which is on the same level as the MRP system in the production planning and control hierarchy, it would be interesting to investigate the periodical planning of virtual manufacturing cells with the PBC principles and rules applied.…”
Section: Period Batch Controlmentioning
confidence: 99%
“…Berlec et al [21] study the calculation of optimal batch quantity using first the basic model, and then the extended model taking into account the tied-up capital in a production, in addition to the costs of changing the batch and storage costs. They implement the study for a case to find out when either of the two models should be used.…”
Section: Literature Reviewmentioning
confidence: 99%