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 Journal of Statistics and Management Systems cover
Open Access ·Peer-reviewed·ISSN (Online): 2169-0014·ISSN (Print): 0972-0510
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The Journal of Statistics and Management Systems (JSMS) is a world leading journal publishing high quality, rigorously peer-reviewed original research on theoretical and applied statistics and management systems since 1998. The scope is intentionally broad, but papers must make a novel contribution to the field to be considered for publication. Topics include, but are not limited to, the following: • Statistics • Applied Statistics • Industrial Statistics • Statistical Inference • Interdisciplinary role of Statistics • Actuarial Sciences • Decision Sciences • Managerial Aspects • Management Sciences • Management Information Systems

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Open Access Research Article

Process variance setting and quality investment selection for modified traditional inventory model

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pp. 1683–1689Vol. 27Issue 8November 2024DOI: 10.47974/JSMS-1240XML
Received:
14 Jun 2023
Published Online:
18 Dec 2024
Article type:
Research Article
Language:
EN
Article no.:
JSMS-1240
Pages:
1683–1689

Abstract

This work discusses inventory model based on EMQ, process variance, and parameters of inspection plan in the first step. Then the optimal quality investment for reducing process variance is determined in the second step.  In this article, we consider the modified inventory model with EMQ, process variance, and parameters of inspection plan in the first step. Then the optimal quality investment for reducing process bias is determined in the second step.

Keywords

Subject Classifications

60E05 Probability distributions: general theory

References

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