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This thesis includes the analysis of the existing theoretical knowledge in inventory planning from a lot sizing model approach and aims to identify the most suitable order generation method in the Make-To-Stock production of an electronic assembly company with production site located in Estonia.
Inventory management is a key issue in the whole manufacturing process and in particular in the setting of the manufacturing lot sizes. Great emphasis should be placed on the optimization of the costs and on the search of the appropiate production orders. In production planning and control, models are needed to set the basis of a given service; at what times and in what lot size should be produced different products on one machine. The aim is not only to formulate a feasible production plan, but also to identify based on a cost evaluation, the best possible production plan. For this purpose, the cost manufacturing, warehousing and setup costs are taken into account.
The optimal lot sizing model will be chosen according to the conditions of the concerned enterprise production system. Thus, regarding the current system, an optimal proposal will be made attempting to fit in the already established planning process. Moreover, in order to test the suitability of the chosen lot sizing model, some cost calculations will take place.
When it comes to achieve better results and stand out at the top of the competitive field there is a need of a continuous improvement attitude. Only by broadening the approach, will a company be capable of keeping the pace with an incessant world.
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