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Production control of an unreliable manufacturing system under the assumption of no backlog

Author

Listed:
  • Bin Liu
  • Jinhua Cao

Abstract

This paper deals with an unreliable manufacturing system in which no backlog is allowed. The hedging point policy is used to control production. This paper's objective is to find the optimum hedging point so as to minimize the average inventory cost. Firstly, for a tentative hedging point, we derive the limiting distribution of the inventory level. This derivation is accomplished by comparison between this system and a finite storage-production system. Based on it we calculate the average inventory cost and find the optimum hedging point. Copyright Physica-Verlag 1997

Suggested Citation

  • Bin Liu & Jinhua Cao, 1997. "Production control of an unreliable manufacturing system under the assumption of no backlog," Mathematical Methods of Operations Research, Springer;Gesellschaft für Operations Research (GOR);Nederlands Genootschap voor Besliskunde (NGB), vol. 46(1), pages 103-117, February.
    • Handle: RePEc:spr:mathme:v:46:y:1997:i:1:p:103-117
    DOI: 10.1007/BF01199465
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    Cited by:

    1. Rempala, Ryszarda, 2005. "A continuous production-inventory problem with regeneration cycles," International Journal of Production Economics, Elsevier, vol. 93(1), pages 447-454, January.

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