Economic-statistical design of an adaptive X chart

Article Abstract:

The economic-statistical design of an adaptive X chart, which has dual sample sizes and dual sampling intervals, achieves better experimental results than the fixed sample-size, fixed sampling-interval X chart in terms of cost function and statistical properties. By minimizing the cost function, the maximum design parameters of the adaptive chart can be achieved. Using the economic-statistical approach, statistical constraints should be established during the optimization process to achieve the required statistical performance.

Statistics, Econometrics & Model Building, Analysis, Econometrics, Statistics (Mathematics), Business models, Statistical process control

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A dynamic model for the single-vendor, multi-buyer problem

Article Abstract:

A study was conducted to analyze a problem of a dynamic production-distribution scenario for a single product. A situation where a vendor produces a product in a batch production environment and supplies it to multiple buyers under deterministic conditions was discussed. Moreover, buyers and vendor demands were considered as periodic sequences. Results indicated that the vendor situation correlates with buyers decisions and that vendor's decision had no impact on buyers costs.

Management, Logistics, Business logistics

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Demand promotion by upgradation under stock-dependent demand situation - a model

Article Abstract:

A model was proposed to illustrate the concept of demand promotion through upgradation of the selling center's existing system. The model, which aims to optimize the net profit over a prescribed time, takes into account a consumption rate that is presumed to be stock level dependent. The model was able to reduce the problem under consideration into a maximizing problem and derive an algorithmic approach to resolve such problem.

Mathematics, Algorithms, Inventory control, Demand functions (Economics), Demand functions

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