Development of a stochastic model for determining the elements of production cycle time and their optimization for serial production in metal processing industry and recycling processes

This project is a continuation of the TR14011 project, where it was found that production cycle (PC) time is extremely long in Serbian companies. The goal of this project is to develop a stochastic model for determining the elements of PC time and their optimization. They will enable quality monitoring and analysis of the PC time, which results in lesser stocks levels and larger turnover of means in the production and recycling processes, raising Serbian metal processing industry competitiveness, with adequate waste management and industrial pollution reduction, and all this to comply with the Decision No 768/2008 of the European Parliament and of the Council of Europe. The project involve: a) Setting a modified model of current observations, which eliminates the drawbacks of the Tipett model and introduces a more detailed analysis of the elements of PC time, b) Setting the PC model where stochastic functions do not follow binomial but normal distribution law, c) Developing a PC monitoring method based on methods of quality control in time with the error of ± 2 SD, d) Determination of the impact of series size, organizational level and product characteristics on the PC duration, and e) Models will be designed in accordance with the idea of the supply chain model which involves regional recycling centers. Techno-economic analysis of the project indicates that it is justifiable in financial terms, and the results of the project also will be published in the SCI-list journals.