Assessing the Benefits of Different Stock-Allocation Policies for a Make-to-Stock Production System
AbstractWe consider a manufacturing facility that produces a single item that is demanded by several different classes of customers. The inventory-related cost performance of such a system can be improved by effective allocation of production and inventories. We obtain the optimal parameters for three easily implementable allocation policies. Our results cover the case of linear backorder costs as well as fill-rate constraints. We compare the optimal performance of these control policies to gain insights into the benefits of different production and stock-allocation rules.
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Bibliographic InfoArticle provided by INFORMS in its journal Manufacturing & Service Operations Management.
Volume (Year): 3 (2001)
Issue (Month): 2 (December)
Inventory/Production; Optimal Policies; Stock Allocation; Queues; Make-to-Stock System;
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- Chen-Ritzo, Ching-Hua & Ervolina, Tom & Harrison, Terry P. & Gupta, Barun, 2011. "Component rationing for available-to-promise scheduling in configure-to-order systems," European Journal of Operational Research, Elsevier, vol. 211(1), pages 57-65, May.
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