Multi-Objective Stochastic Programming with a Joint Probability Constraint approach for Production Planning Problems: A Model for SMEs

K Suresh , Dr. S NarayanaRao

Small and medium Manufacturing Enterprises, Production Planning. Multi-Objective Stochastic Programming

In India, 95% of enterprises are small and medium enterprises (SMEs), and they play a major role in generating employment and contribute significantly to the export of the country. In recent years, SMEs are finding themselves in an intensely competitive environment and as a result the growth of these enterprises has slowed down considerably. Large and unpredicted variations in supply and demand fluctuations are the critical factors for the SME which leading to increase in manufacturing cost. In this context, literature has suggested that implementation of appropriate production planning approaches would be beneficial to the SMEs as this would help them to overcome the constraints of infrastructural resources. In this paper an attempt is made to develop a methodology to find optimal solutions under supply and demand variations environment. A statistical model has been developed using chance constrained programming technique and a deterministic model based on the stochastic model has been made. To solve the multi-objective deterministic problem obtained, we use only one objective at a time and ignoring the others.

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"Multi-Objective Stochastic Programming with a Joint Probability Constraint approach for Production Planning Problems: A Model for SMEs ", IJSDR - International Journal of Scientific Development and Research (www.IJSDR.org), ISSN:2455-2631, Vol.1, Issue 12, page no.53 - 58, December-2016, Available :https://ijsdr.org/papers/IJSDR1612011.pdf

Volume 1 Issue 12, December-2016

Pages : 53 - 58

Paper Reg. ID: IJSDR_160960

Published Paper Id: IJSDR1612011

Downloads: 000347189

Research Area: Engineering

Country: visakhapatnam, andhrapradesh, India

Published Paper PDF: https://ijsdr.org/papers/IJSDR1612011

Published Paper URL: https://ijsdr.org/viewpaperforall?paper=IJSDR1612011

ISSN: 2455-2631 | IMPACT FACTOR: 9.15 Calculated By Google Scholar | ESTD YEAR: 2016

An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 9.15 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator

Publisher: IJSDR(IJ Publication) Janvi Wave

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