Optimisation of Production Under Uncertainty PDF Download

Author: Svend Rasmussen
Publisher: Springer Science & Business Media
ISBN: 3642216862
Category : Business & Economics
Languages : en
Pages : 83

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Book Description
The book provides a short review of the classical approach to planning and decision making under uncertainty. It further explains the concept of state-contingent goods, and it extends earlier work on the state-contingent approach to describing production under uncertainty to the problems involved in optimising production under uncertainty.

Author: Svend Rasmussen
Publisher: Springer Science & Business Media
ISBN: 3642302009
Category : Business & Economics
Languages : en
Pages : 296

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Book Description
This book covers the basic theory of how, what and when firms should produce to maximise profits. Based on the neoclassical theory of the firm presented in most general microeconomic textbooks, it extends the general treatment and focuses on the application of the theory to specific problems that the firm faces when making production decisions to maximise profits. Increasing level of government regulation and the use of specialised and often very expensive equipment in modern production motivates the following focus areas: 1) How to optimise production under restrictions., 2) Treatment of fixed inputs and the process of input fixation, 3) Optimisation of production over time, 4) Linear and Mixed Integer Programming as tools for optimisation in practice. This updated second edition includes a more comprehensive introduction to the theory of decision making under risk and uncertainty as well as a new chapter on how to use linear programming to generate the supply function of the firm.

Author: Barrie M. Cole
Publisher: Vernon Press
ISBN: 162273016X
Category : Business & Economics
Languages : en
Pages : 383

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Book Description
Drawing on cutting-edge research, this book proposes a new 'Supply Chain Optimization under Uncertainty’, technology. Its application can bring many proven benefits to supply chain entities, any associated service providers, and, of course, the customers. The technology can provide the best design and operating solution for a Supply Chain Network (SCN) that is subject to any prevailing conditions of Operational Uncertainty (OU). A SCN is defined as a network of production facilities, distribution centers and retail sales outlets. OU is defined as any relevant combination of i) multiple process objectives e.g. a business needs to maximize operating profits and to minimize inventory levels, ii) fuzziness (<, <=, >, or >=) e.g. sales <= 1500 t/mth and iii) probability e.g. sale of fertilizer is dependent on probabilistic rainfall. Following this method always enables the determination of realistic optimum supply chain solutions, since the effects of any operational uncertainties are always provided for. The book is arranged in two parts. The first part covers the theory and recent research into supply chain optimization under uncertainty. The second part documents the application of the newly proposed technology to an agricultural fertilizer’s (NPK, South Africa) supply chain.

Author: Son Duy Dao
Publisher: Springer
ISBN: 3319721135
Category : Technology & Engineering
Languages : en
Pages : 158

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Book Description
This thesis reports on an innovative production-scheduling model for virtual computer-integrated manufacturing (VCIM) systems. It also describes a robust genetic algorithm for production scheduling in VCIM systems. The model, which is the most comprehensive of its kind to date, is not only capable of supporting collaborative shipment scheduling and handling multiple product orders simultaneously, but also helps cope with multiple objective functions under uncertainties. In turn, the genetic algorithm, characterised by an innovative algorithm structure, chromosome encoding, crossover and mutation, is capable of searching for optimal/suboptimal solutions to the complex optimisation problem in the VCIM production- scheduling model described. Lastly, the effectiveness of the proposed approach is verified in a comprehensive case study.

Author: Massimiliano Vasile
Publisher: Springer Nature
ISBN: 3030601668
Category : Science
Languages : en
Pages : 573

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Book Description
In an expanding world with limited resources, optimization and uncertainty quantification have become a necessity when handling complex systems and processes. This book provides the foundational material necessary for those who wish to embark on advanced research at the limits of computability, collecting together lecture material from leading experts across the topics of optimization, uncertainty quantification and aerospace engineering. The aerospace sector in particular has stringent performance requirements on highly complex systems, for which solutions are expected to be optimal and reliable at the same time. The text covers a wide range of techniques and methods, from polynomial chaos expansions for uncertainty quantification to Bayesian and Imprecise Probability theories, and from Markov chains to surrogate models based on Gaussian processes. The book will serve as a valuable tool for practitioners, researchers and PhD students.

Author: Aharon Ben-Tal
Publisher: Princeton University Press
ISBN: 1400831059
Category : Mathematics
Languages : en
Pages : 565

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Book Description
Robust optimization is still a relatively new approach to optimization problems affected by uncertainty, but it has already proved so useful in real applications that it is difficult to tackle such problems today without considering this powerful methodology. Written by the principal developers of robust optimization, and describing the main achievements of a decade of research, this is the first book to provide a comprehensive and up-to-date account of the subject. Robust optimization is designed to meet some major challenges associated with uncertainty-affected optimization problems: to operate under lack of full information on the nature of uncertainty; to model the problem in a form that can be solved efficiently; and to provide guarantees about the performance of the solution. The book starts with a relatively simple treatment of uncertain linear programming, proceeding with a deep analysis of the interconnections between the construction of appropriate uncertainty sets and the classical chance constraints (probabilistic) approach. It then develops the robust optimization theory for uncertain conic quadratic and semidefinite optimization problems and dynamic (multistage) problems. The theory is supported by numerous examples and computational illustrations. An essential book for anyone working on optimization and decision making under uncertainty, Robust Optimization also makes an ideal graduate textbook on the subject.

Author: Sushil Bikhchandani
Publisher: Cambridge University Press
ISBN: 1107433762
Category : Business & Economics
Languages : en
Pages : 509

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Book Description
There has been explosive progress in the economic theory of uncertainty and information in the past few decades. This subject is now taught not only in departments of economics but also in professional schools and programs oriented toward business, government and administration, and public policy. This book attempts to unify the subject matter in a simple, accessible manner. Part I of the book focuses on the economics of uncertainty; Part II examines the economics of information. This revised and updated second edition places a greater focus on game theory. New topics include posted-price markets, mechanism design, common-value auctions, and the one-shot deviation principle for repeated games.

Author: Duc Truong Pham
Publisher: Springer Nature
ISBN: 3031145372
Category : Technology & Engineering
Languages : en
Pages : 397

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Book Description
This book is the first work dedicated to the Bees Algorithm. Following a gentle introduction to the main ideas underpinning the algorithm, the book presents recent results and developments relating to the algorithm and its application to optimisation problems in production and manufacturing. With the advent of the Fourth Industrial Revolution, production and manufacturing processes and systems have become more complex. To obtain the best performance from them requires efficient and effective optimisation techniques that do not depend on the availability of process or system models. Such models are usually either not obtainable or mathematically intractable due to the high degrees of nonlinearities and uncertainties in the processes and systems to be represented. The Bees Algorithm is a powerful swarm-based intelligent optimisation metaheuristic inspired by the foraging behaviour of honeybees. The algorithm is conceptually elegant and extremely easy to apply. All it needs to solve an optimisation problem is a means to evaluate the quality of potential solutions. This book demonstrates the simplicity, effectiveness and versatility of the algorithm and encourages its further adoption by engineers and researchers across the world to realise smart and sustainable manufacturing and production in the age of Industry 4.0 and beyond.

Author: Shubhabrata Datta
Publisher: Springer
ISBN: 3030016412
Category : Technology & Engineering
Languages : en
Pages : 355

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Book Description
This book describes different approaches for solving industrial problems like product design, process optimization, quality enhancement, productivity improvement and cost minimization. Several optimization techniques are described. The book covers case studies on the applications of classical as well as evolutionary and swarm optimization tools for solving industrial issues. The content is very helpful for industry personnel, particularly engineers from the Operation, R&D and Quality Assurance sectors, and also the academic researchers of different engineering and/or business administration background.

Author: Eleonora Widzyk-Capehart
Publisher: Springer
ISBN: 3319992201
Category : Science
Languages : en
Pages : 559

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Book Description
This proceedings book presents research papers discussing the latest developments and findings in the fields of mining, machinery, automation and environmental protection. It includes contributions from authors from over 20 countries, with backgrounds in computer science, mining engineering, technology and management, and hailing from the government, industry and academia. It is of interest to scientists, engineers, consultants and government staff who are responsible for the development and implementation of innovative approaches, techniques and technologies in the mineral industries. Covering the latest advances in fundamental research, it also appeals to academic researchers.