Incorporating Machine Breakdown and Maintenance Scheduling in EPQ Models with Deteriorating Inventory

Abstract

In this article, I have described about the topic “Incorporating Machine Breakdown and Maintenance Scheduling in EPQ Models with Deteriorating Inventory”.This study presents a better Economic Production Quantity (EPQ) model that takes into account machine breakdowns, preventative maintenance, and inventory loss. This model makes production planning more realistic in complex industrial systems. When used in the real world, traditional EPQ models can be inefficient because they believe that production will never stop and that goods will not go bad.  The model takes into account possible output delays and the costs of fixing them by including random machine breakdowns and planned maintenance.  It also takes into account inventory deterioration, which is the idea that things may lose value or become useless over time, which can change the cost of keeping them and the total profit.  The goal of the model is to find the best output lot size that reduces all costs, such as setup, holding, damage, and repair. The study shows through mathematical modeling and analysis how combining these factors makes production methods more durable and cost-effective.  It shows the trade-offs between arranging repair, managing inventory, and making sure that production runs smoothly. It stresses how important it is to find the right balance between these factors to improve overall performance.  The results are useful for manufacturing and operations managers who want to make the best use of production planning in settings where equipment isn't always reliable and material goes bad quickly.