Abstract
The underlying goal of JIT philosophy is to eliminate waste, which is possible only through certain measures such as reducing the lead time, crashing of the setup cost, improving the service level etc. All these measures are achievable through an extra investment. The present study investigates the effect of crashing of the lead time and setup cost in periodic review inventory model, where the demand during the protection interval follows the normal distribution under the service level constraint. Numerical example is presented to illustrate the results of the proposed model along with the sensitivity analysis.
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