A Production Planning Optimization Model for Maximizing Battery Manufacturing Profitability
نویسنده
چکیده
This paper presents an integer programming (IP) model for production planning, which is used to maximize the profitability of battery manufacturing in a mid-size company. Battery production is a complicated multi-stage process. The formation stage, during which the batteries are filled with acid and charged with electricity, is considered to be the bottleneck of this process. The IP model maximizes the total profit of batteries produced in the formation stage, subject to limited manufacturing resources as well as time limitations and demand restrictions. The IP model is able to accommodate a large variety of battery models and sizes, and also different charging circuit capacities and speeds. The model is formulated and optimally solved using Microsoft Excel Solver. Compared to the current manual production planning approach, the optimum IP-generated production plans lead to an average increase of 12% in daily profits.
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