Author: Albert Y. HaPublisher:
ISBN:
Category :
Languages : en
Pages : 46
Book Description
Optimal Dynamic Scheduling Policy for a Make-to-stock Production System
Author: Albert Y. HaDynamic Scheduling Policies in Production-inventory Systems with Returns Or Two Classes of Demands
Author: Jieling HanPublisher:
ISBN:
Category : Inventory control
Languages : en
Pages : 121
Book Description
A major concern in operations and supply chain management research has been to determine optimal policies to minimize costs in production and inventory systems. This dissertation consists of two applications of production-inventory systems motivated by the real world observations. The first model is motivated by a high-tech company data center server inventory control process. The firm has internalized the production process and faces server returns at the same time. There are demands for both new and used products. Returned servers can be used to serve the demand for use products directly, or be remanufactured into new condition by the same production capacity. Unmet demands are lost. The objective is to determine the optimal scheduling policy that minimizes the discounted total cost. We model the system with a production-inventory model with returns and show the optimal production inventory policy is of base stock type. Efficient heuristics are proposed and the base model is extended to scenarios that better described the real world situation. These scenarios include unmet demand are backordered, bulk demands and returns depending on the demands. The second model analyzes a model of a continuous-time production-inventory system with a shared server serving two demands. Unsatisfied demands are backordered and standard holding and penalty costs apply at each inventory location. The objective is to determine the optimal scheduling policy that minimizes the discounted total cost. The distinguishing feature of our model is that the two demand classes differ in their variability characteristics. The motivation for analyzing such a system is driven by our observations in many real-life contexts where such a difference is reported to exist. Very briefly, practical examples of why the variability of two demand processes, served by the same capacity, may differ include (1) inherent differences in the predictability of the demand, (2) some customers' spiky purchasing pattern influenced by low prices during promotions, (3) mixing emergency and scheduled demands, and (4) the nature of two different markets. Our results allow us to shed some light on implications for managers in such circumstances.
Optimal Control and Optimization of Stochastic Supply Chain Systems
Author: Dong-Ping SongPublisher: Springer Science & Business Media
ISBN: 1447147243
Category : Technology & Engineering
Languages : en
Pages : 282
Book Description
Optimal Control and Optimization of Stochastic Supply Chain Systems examines its subject the context of the presence of a variety of uncertainties. Numerous examples with intuitive illustrations and tables are provided, to demonstrate the structural characteristics of the optimal control policies in various stochastic supply chains and to show how to make use of these characteristics to construct easy-to-operate sub-optimal policies. In Part I, a general introduction to stochastic supply chain systems is provided. Analytical models for various stochastic supply chain systems are formulated and analysed in Part II. In Part III the structural knowledge of the optimal control policies obtained in Part II is utilized to construct easy-to-operate sub-optimal control policies for various stochastic supply chain systems accordingly. Finally, Part IV discusses the optimisation of threshold-type control policies and their robustness. A key feature of the book is its tying together of the complex analytical models produced by the requirements of operational practice, and the simple solutions needed for implementation. The analytical models and theoretical analysis propounded in this monograph will be of benefit to academic researchers and graduate students looking at logistics and supply chain management from standpoints in operations research or industrial, manufacturing, or control engineering. The practical tools and solutions and the qualitative insights into the ideas underlying functional supply chain systems will be of similar use to readers from more industrially-based backgrounds.
Research Handbook on Inventory Management
Author: Jing-Sheng J. SongPublisher: Edward Elgar Publishing
ISBN: 180037710X
Category : Technology & Engineering
Languages : en
Pages : 565
Book Description
This comprehensive Handbook provides an overview of state-of-the-art research on quantitative models for inventory management. Despite over half a century’s progress, inventory management remains a challenge, as evidenced by the recent Covid-19 pandemic. With an expanse of world-renowned inventory scholars from major international research universities, this Handbook explores key areas including mathematical modelling, the interplay of inventory decisions and other business decisions and the unique challenges posed to multiple industries.
Analysis and Modeling of Manufacturing Systems
Author: Stanley B. GershwinPublisher: Springer Science & Business Media
ISBN: 1461510198
Category : Business & Economics
Languages : en
Pages : 443
Book Description
Analysis and Modeling of Manufacturing Systems is a set of papers on some of the newest research and applications of mathematical and computational techniques to manufacturing systems and supply chains. These papers deal with fundamental questions (how to predict factory performance: how to operate production systems) and explicitly treat the stochastic nature of failures, operation times, demand, and other important events. Analysis and Modeling of Manufacturing Systems will be of interest to readers with a strong background in operations research, including researchers and mathematically sophisticated practitioners.
Optimal Scheduling and Stock Rationing Policies in Make-to-stock Production Systems
Author: Albert Y. HaPublisher:
ISBN:
Category : Manufacturing processes
Languages : en
Pages : 246
Book Description
Optimal Admission Control and Sequencing in a Make-To-Stock/Make-To-Order Production System
Author: Scott CarrHandbook of New Product Development Management
Author: Christoph LochPublisher: Routledge
ISBN: 0750685522
Category : Business & Economics
Languages : en
Pages : 560
Book Description
This text provides a comprehensive view of the challenges in managing the development of new products from well-known and leading contributors in the field.
Analysis of Make-to-stock Queues with General Production Times
Author: Nima SanajianPublisher:
ISBN: 9780494212905
Category :
Languages : en
Pages : 132
Book Description
In this thesis, we obtain the exact steady-state distribution of the number of customers in a GI/G/1 make-to-stock queue, therefore we observe the impact of production time variability on optimal inventory control policies. We also shed light on how system performance deteriorates more because of production stoppages and variability in repair times. We also analyze a production/inventory producing different products. We compare the performances of different scheduling policies in regard of the inventory control parameters and average system costs which are obtained by using the exact steady-state distribution of the number of customers for each static policy (first-come-first-served, preemptive and non-preemptive priority disciplines). We provide the inequalities indicating when it is optimal to switch from make-to-stock to make-to-order policy. We extend the application area of a well-known dynamic scheduling heuristic, Myopic(T), for systems with non-exponential service times. We additionally analyze inventory pooling problem in the M/G/1 make-to-stock queue.
Dynamic Capacity Control in Air Cargo Revenue Management
Author: Rainer HoffmannPublisher: KIT Scientific Publishing
ISBN: 3731500035
Category : Business & Economics
Languages : en
Pages : 238
Book Description
This book studies air cargo capacity control problems. The focus is on analyzing decision models with intuitive optimal decisions as well as on developing efficient heuristics and bounds. Three different models are studied: First, a model for steering the availability of cargo space on single legs. Second, a model that simultaneously optimizes the availability of both seats and cargo capacity. Third, a decision model that controls the availability of cargo capacity on a network of flights.