Product-Mix Analysis for Total Profit Maximization by Applying Group Technology Concepts

Abstract

An analysis for the maximum total profit was performed in an attempt to determine optimal parts to be machined in a limited time available for the given machine tool by applying Group Technology concepts. In addition, the optimal machining speeds to be utilized in manufacturing the selected parts were determined. A computational algorithm was developed for this optimal product-mix decision as well as for determining the optimal machinign speeds, and a numerical example was shown.