Techniques for cash management in scheduling manufacturing operations
The objective in traditional scheduling is usually time based. Minimizing the makespan, total flow times, total tardi costs, etc. are instances of these objectives. In manufacturing, processing each job entails a cost paying and price receiving. Thus, the objective should include some notion of mana...
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| Veröffentlicht in: | Journal of industrial engineering international 2017-06, Vol.13 (2), p.265-273 |
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| container_title | Journal of industrial engineering international |
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| creator | Gohareh, Mehdy Morady Gharneh, Naser Shams Yaghin, Reza Ghasemy |
| description | The objective in traditional scheduling is usually time based. Minimizing the makespan, total flow times, total tardi costs, etc. are instances of these objectives. In manufacturing, processing each job entails a cost paying and price receiving. Thus, the objective should include some notion of managing the flow of cash. We have defined two new objectives: maximization of average and minimum available cash. For single machine scheduling, it is demonstrated that scheduling jobs in decreasing order of profit ratios maximizes the former and improves productivity. Moreover, scheduling jobs in increasing order of costs and breaking ties in decreasing order of prices maximizes the latter and creates protection against financial instability. |
| doi_str_mv | 10.1007/s40092-016-0171-9 |
| format | Article |
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| source | DOAJ Directory of Open Access Journals; Elektronische Zeitschriftenbibliothek - Frei zugängliche E-Journals; Springer Nature OA Free Journals |
| subjects | Cash deficiency Cash management Engineering Engineering Economics Facility Management Industrial and Production Engineering Logistics Manufacturing industries Marketing Mathematical and Computational Engineering Organization Original Research Production scheduling Quality Control Reliability Safety and Risk Scheduling Single machine Stability |
| title | Techniques for cash management in scheduling manufacturing operations |
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