Optimization of Lead Time through Genetic Algorithm: A Case Study of Equipment Manufacturing Industry
Lead time is an important indication of production process and plays a vital role in meeting targets. The main aim of this study is to optimize lead time of a sugar industry through effective management of resources to ensure timely completion of the projects. The study is based on a manufacturing process at Heavy Mechanical Complex (HMC) for supply of conventional 02 roller machines to sugar industry. The proposed model is solved using Genetic Algorithm (GA) with some modifications as per requirement. The results showed that the implementation of proposed model enable HMC to deliver products as per schedule without increasing planned cost. Sensitivity analyses are also conducted to find out the impact of various process parameters. From analyses, it is found that the proposed model facilitate stakeholders in developing strategic relation by helping in meeting agreed terms and conditions.