Analysis of production/inventory systems with several production rates

David Perry; M. J.M. Posner

doi:10.1080/15326349908807138

Analysis of production/inventory systems with several production rates

David Perry, M. J.M. Posner

Department of Statistics

Research output: Contribution to journal › Article › peer-review

Abstract

We consider four model classes with differing rules as to how to deal with the issue of backordering and shortages. For each model we assume N switchover levels and piecewise linear, state dependent and deterministic production rates between levels. We compute relevant functionals such as the stationary law of the inventory level, holding costs, switching and unsatisfied demand costs, and consider these with respect to two objective functions, namely, the long-run average cost, and the expected discounted cost.

Original language	English
Pages (from-to)	99-116
Number of pages	18
Journal	Stochastic Models
Volume	6
Issue number	1
DOIs	https://doi.org/10.1080/15326349908807138
State	Published - 1990

Bibliographical note

Funding Information:
The financial support of the National Sciences and Engineering Research Council of

Keywords

M/M/1
busy period
discounted cost
inventory
level crossings
long-run average cost
production
virtual waiting time

ASJC Scopus subject areas

Modeling and Simulation

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10.1080/15326349908807138

Cite this

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AB - We consider four model classes with differing rules as to how to deal with the issue of backordering and shortages. For each model we assume N switchover levels and piecewise linear, state dependent and deterministic production rates between levels. We compute relevant functionals such as the stationary law of the inventory level, holding costs, switching and unsatisfied demand costs, and consider these with respect to two objective functions, namely, the long-run average cost, and the expected discounted cost.

KW - M/M/1

KW - busy period

KW - discounted cost

KW - inventory

KW - level crossings

KW - long-run average cost

KW - production

KW - virtual waiting time

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Analysis of production/inventory systems with several production rates

Abstract

Bibliographical note

Keywords

ASJC Scopus subject areas

Access to Document

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