Multiple lot-sizing, and value of probabilistic information, in production to order of an uncertain size

Article Abstract:

A study proposes a new multiple lot-sizing production to uncertain demand model to solve the scenario where make-to-order manufacturers know that an order for products with certain specifications will be placed but does not know the exact size of the order. This numerical model demonstrated that production can be halted only when the stock of goods unit is larger than a ceratin critical value, shows where to begin the dynamic programming recursion if the order size distribution is unbounded and how to compute the profit's variance for any control limit policy.

Production Planning & Control, Usage, Mathematical models, Production control, Production planning, Economic lot size, Numerical calculations

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Continuous review inventory control when capacity is variable

Article Abstract:

The performance of the basic economic order quantity model and the order quantity/reorder point model with backlogging when variable capacity was taken into consideration during optimal lot sizing was investigated. Specifically, it was shown that variable capacity always leads to a larger optimal lot size and, for the second case, a higher reorder point. To this end, several procedures for finding optimal solutions to problems where the variable capacity distribution is exponential are presented.

Research, Industrial capacity

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Order point/order quantity models with random yield

Article Abstract:

A method of combining yield randomness with the traditional order point/order quantity inventory model is described. The resulting effects of incorporation addresses both binomial and stochastically proportional yields in backordering and lost sales. The results show that yield randomness does not greatly change the structure of model solutions. This entails that the convergence rate will likewise remain constant.

Analysis, Inventories

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