A Capacity Constrained Production-Inventory System with Stochastic Demand and Production Times
Författare
Summary, in English
This paper considers a simple model of a capacity constrained production-inventory system with Poisson demand. The system is controlled by an S policy. The production time for a unit is modelled as a gamma distributed stochastic variable. Using M/G/1 queuing theory it is very easy to evaluate holding and backorder costs and optimise the ordering policy. The suggested model may be useful when evaluating investments in production.
Avdelning/ar
Publiceringsår
2010
Språk
Engelska
Sidor
6203-6209
Publikation/Tidskrift/Serie
International Journal of Production Research
Volym
48
Issue
20
Dokumenttyp
Artikel i tidskrift
Förlag
Taylor & Francis
Ämne
- Transport Systems and Logistics
Nyckelord
- stochastic
- production-inventory management
- capacity constrained
Status
Published
ISBN/ISSN/Övrigt
- ISSN: 0020-7543