Single-site strategic capacity planning considering renewal, maintenance, inventory, taxes and cash flow management
This paper deals with strategic capacity planning of a single-site manufacturing system. We propose a MILP model that includes relevant business aspects and possibilities, some of which are only partially or not at all found in the literature. Specifically, we consider decisions on expansion, reduct...
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| Veröffentlicht in: | The Journal of the Operational Research Society 2016-07, Vol.67 (7), p.970-981 |
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| container_title | The Journal of the Operational Research Society |
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| creator | Benedito, Ernest Corominas, Albert Martínez, Carme Mas-Machuca, Marta |
| description | This paper deals with strategic capacity planning of a single-site manufacturing system. We propose a MILP model that includes relevant business aspects and possibilities, some of which are only partially or not at all found in the literature. Specifically, we consider decisions on expansion, reduction and renewal of production capacity, and acquisition of storage capacity. In addition, we model aspects such as (a) maintenance costs and unit variable costs depending, respectively, on age and characteristics of facilities, (b) seasonality of the demand and (c) cash flow management, including taxes and, therefore, depreciation of assets. The model maximises the after-tax cash balance at the end of the planning horizon. We also present a computational experiment with 54 instances to show that the model can be solved for a wide range of sizes in a reasonable computing time using comercial software. |
| doi_str_mv | 10.1057/jors.2015.110 |
| format | Article |
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We propose a MILP model that includes relevant business aspects and possibilities, some of which are only partially or not at all found in the literature. Specifically, we consider decisions on expansion, reduction and renewal of production capacity, and acquisition of storage capacity. In addition, we model aspects such as (a) maintenance costs and unit variable costs depending, respectively, on age and characteristics of facilities, (b) seasonality of the demand and (c) cash flow management, including taxes and, therefore, depreciation of assets. The model maximises the after-tax cash balance at the end of the planning horizon. 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We propose a MILP model that includes relevant business aspects and possibilities, some of which are only partially or not at all found in the literature. Specifically, we consider decisions on expansion, reduction and renewal of production capacity, and acquisition of storage capacity. In addition, we model aspects such as (a) maintenance costs and unit variable costs depending, respectively, on age and characteristics of facilities, (b) seasonality of the demand and (c) cash flow management, including taxes and, therefore, depreciation of assets. The model maximises the after-tax cash balance at the end of the planning horizon. We also present a computational experiment with 54 instances to show that the model can be solved for a wide range of sizes in a reasonable computing time using comercial software.</description><subject>Business and Management</subject><subject>Cash flow</subject><subject>Economia i organització d'empreses</subject><subject>General Paper</subject><subject>General Papers</subject><subject>Indústries</subject><subject>Inventory</subject><subject>Inventory management</subject><subject>Literature reviews</subject><subject>Maintenance costs</subject><subject>Management</subject><subject>Manufacturing</subject><subject>Mathematical programming</subject><subject>mathematical programming models</subject><subject>Operations management</subject><subject>Operations research</subject><subject>Operations Research/Decision Theory</subject><subject>Organització del treball</subject><subject>Planificació</subject><subject>Production capacity</subject><subject>Programació (Matemàtica)</subject><subject>Seasonal variations</subject><subject>Storage</subject><subject>strategic capacity planning</subject><subject>Strategic capacity planning manufacturing mathematical programming models</subject><subject>Strategic planning</subject><subject>Studies</subject><subject>Àrees temàtiques de la 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| subjects | Business and Management Cash flow Economia i organització d'empreses General Paper General Papers Indústries Inventory Inventory management Literature reviews Maintenance costs Management Manufacturing Mathematical programming mathematical programming models Operations management Operations research Operations Research/Decision Theory Organització del treball Planificació Production capacity Programació (Matemàtica) Seasonal variations Storage strategic capacity planning Strategic capacity planning manufacturing mathematical programming models Strategic planning Studies Àrees temàtiques de la UPC |
| title | Single-site strategic capacity planning considering renewal, maintenance, inventory, taxes and cash flow management |
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