Abstract
An investment model can be developed for investment in repetitive inspections and investment in measurement equipment in imperfect production systems. The relevant costs and benefits of the investments are developed to predict the return of the investments. The investment in repetitive inspections affects the number of repetitive inspections. The investment in measurement equipment reduces the measurement error of measurement equipment. They are then linked to the proportion of good units sent to the customer, which can result in an increase in market share and a decrease in product warranty cost. The model includes the investment in inspection, the investment in measurement equipment, failure cost in inspection, failure cost in measurement, manufacturing cost, market share increase, and warranty cost.
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