EBookClubs

Read Books & Download eBooks Full Online

EBookClubs

Read Books & Download eBooks Full Online

Book Production Smoothing with Stochastic Demand and Related Inventory Problems

Download or read book Production Smoothing with Stochastic Demand and Related Inventory Problems written by M. J. Sobel and published by . This book was released on 1967 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: The dynamic single product inventory problems treated here have costs that depend on changes in production rates as well as on the rates themselves and on inventory levels. All but one of the models have stochastic demand and backorder excess demand. A discrete time model in which smoothing costs are proportional to the difference between production rates in successive periods is shown to have an optimal policy in which production decreases as inventory increases; uniform bounds are given for the optimal policy parameter values. The model generalizes to one in which employment level and production rate are separate variables. A generalized stationary analysis is given for the simpler case. When units are made sequentially in time and demand is a renewal process, the presence of smoothing costs leads to optimal policies for the minimization of average cost per unit time which are based on only two parameters and which are easily administered. Analogous results are obtained for a similar discrete time model and the resulting stationary distributions of state variables is given for the cases of demand being a Poisson process and either constant or exponentially distributed production times. (Author).

Book Inventory Production Theory

Download or read book Inventory Production Theory written by C.A. Schneeweiss and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt: The term inventory-production theory is not well defined. It com prises e. g. such models like cash balance models, production smoothing models and pure inventory models. We shall here mainly be concerned with stochastic dynamic problems and shall give exact definitions in the next section. Most of our work will concentrate on cash balance models. However, production smoothing situations and pure inventory problems will also be investigated. Since we are faced in principle with dynamic stochastic situa tions a dynamic programming approach would be appropriate. This approach, however, due to computational restraints, is limited to only but the simplest models. Therefore, in practice, one ruduces stochastics just in taking forecasts of demand and then treating the problem as a deterministic optimization problem. In addition one often introduces certain safety stocks to safeguard the system from possible forecasting errors. In general, this proce dure is suboptimal. However, there exists one particular situa tion when a separation in a forecasting procedure and a subse quent optimization of the remaining deterministic model is not suboptimal. This is known as the linear-quadratic model, i. e. a model having linear system equations and a quadratic cost crite rion. For this type of model H. A. Simon ~3J and later H. Theil [25J have shown that the above separation property holds. In fact, Simon's and Theil's results are nothing else but what has later and more generally become known to control engineers as Kalman's famous separation principle.

Book A Dynamic Model for Inventory Management and Production Planning

Download or read book A Dynamic Model for Inventory Management and Production Planning written by Gustavo C. Quintana and published by . This book was released on with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book Foundations of Stochastic Inventory Theory

Download or read book Foundations of Stochastic Inventory Theory written by Evan L. Porteus and published by Stanford University Press. This book was released on 2002 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book has a dual purpose?serving as an advanced textbook designed to prepare doctoral students to do research on the mathematical foundations of inventory theory, and as a reference work for those already engaged in such research. All chapters conclude with exercises that either solidify or extend the concepts introduced.

Book Multi Stage Production Planning and Inventory Control

Download or read book Multi Stage Production Planning and Inventory Control written by Sven Axsäter and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper treats a two-echelon inventory system. The higher echelon is a single location reffered to as the depot, which places orders for supply of a single com modity. The lower echelon consists of several points, called the retailers, which are supplied by shipments from the depot, and at which random demands for the item occur. Stocks are reviewed and decisions are made periodically. Orders and/or shipments may each require a fixed lead time before reaching their respective desti nations. Section II gives a short literature review of distribution research. Section III introduces the multi-echelon distribution system together with the underlying as sumptions and gives a description of how this problem can be viewed as a Markovian Decision Process. Section IV discusses the concept of cost modifications in a distribution context. Section V presents the test-examples together with their optimal solutions and also gives the characteristic properties of these optimal solutions. These properties then will be used in section VI to give adapted ver sions of various heuristics which were used in assembly experiments previously and which will be tested against the test-examples.

Book Stochastic Models of Production inventory Systems

Download or read book Stochastic Models of Production inventory Systems written by and published by . This book was released on 2004 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book Stochastic Modeling of Manufacturing Systems

Download or read book Stochastic Modeling of Manufacturing Systems written by George Liberopoulos and published by Springer Science & Business Media. This book was released on 2005-12-12 with total page 363 pages. Available in PDF, EPUB and Kindle. Book excerpt: Manufacturing systems rarely perform exactly as expected and predicted. Unexpected events, such as order changes, equipment failures and product defects, affect the performance of the system and complicate decision-making. This volume is devoted to the development of analytical methods aiming at responding to variability in a way that limits its corrupting effects on system performance. The book includes fifteen novel chapters that mostly focus on the development and analysis of performance evaluation models of manufacturing systems using decomposition-based methods, Markovian and queuing analysis, simulation, and inventory control approaches. They are organized into four distinct sections to reflect their shared viewpoints: factory design, unreliable production lines, queuing network models, production planning and assembly.

Book Technical Abstract Bulletin

Download or read book Technical Abstract Bulletin written by and published by . This book was released on with total page 828 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book Dynamic Control in Multi Item Production Inventory Systems

Download or read book Dynamic Control in Multi Item Production Inventory Systems written by Harold Tiemessen and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We consider a production/inventory system consisting of one production line and multiple products. Finished goods are kept in stock to serve stochastic demand. Demand is fulfilled immediately if there is an item of the requested product in stock and otherwise it is backordered and fulfilled later. The production line is modeled as a non-preemptive single server and the objective is to minimize the sum of the average inventory holding costs and backordering costs. We investigate the structure of the optimal production policy, propose a new scheduling policy, and develop a method for calculating base stock levels under an arbitrary but given scheduling policy. The performance of the various production policies is evaluated in extensive numerical experiments.

Book Stochastic Models for Production Inventory Planning

Download or read book Stochastic Models for Production Inventory Planning written by Ali Cheaitou and published by . This book was released on 2008 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the Supply Chain Management domain, the main source of randomness is the future demand. The influence of this demand variabilityon the performance of the Supply Chain is very important: for example, in 2007 the global inventory shortage rate in the retail industrywere around 8.3%. On the other hand, in 2003 the global Unsaleable products cost around 1% in the grocery industry. These two types ofcosts, which are mainly caused by the uncertainty of the future demand, represent important lost for the whole Supply Chain actors.This Ph.D. dissertation aims at developing mathematical production planning and inventory management models, which take intoconsideration the randomness of the future demand in order to reduce its economic negative impact, essentially for short life cycleproducts. We provide many planning models that consider the main issues of the planning problems, such as the production capacities,the information updating processes, the supply contracts and the advanced capacity reservation in a total costs minimization context. Weconsider in these models some aspects that are not considered in the literature, such as the "Payback" or the return options. Weemphasize also on an important issue that characterize the globalization of the industry, which may be resumed in the difference betweenthe procurement costs of the different suppliers. This issue is considered in the most chapters presenting models for short life cycleproducts and in the last chapter it is generalized to a long life cycle products setting.All the presented models are solved eitheranalytically or numerically using the dynamic stochastic programming.

Book Management of Stochastic Demand in Make to Stock Manufacturing

Download or read book Management of Stochastic Demand in Make to Stock Manufacturing written by Rainer Quante and published by Peter Lang. This book was released on 2009 with total page 138 pages. Available in PDF, EPUB and Kindle. Book excerpt: Up to now, demand fulfillment in make-to-stock manufacturing is usually handled by advanced planning systems. Orders are fulfilled on the basis of simple rules or deterministic planning approaches not taking into account demand fluctuations. The consideration of different customer classes as it is often done today requires more sophisticated approaches explicitly considering stochastic influences. This book reviews current literature, presents a framework that addresses revenue management and demand fulfillment at once and introduces new stochastic approaches for demand fulfillment in make-to-stock manufacturing based on the ideas of the revenue management literature.

Book Dissertation Abstracts International

Download or read book Dissertation Abstracts International written by and published by . This book was released on 1980 with total page 618 pages. Available in PDF, EPUB and Kindle. Book excerpt: