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Dynamic lot sizing problems with stochastic production output

2017-06-23 Business & Economics
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Release : 2017-06-23
Genre : Business & Economics
Kind : eBook
Book Rating : 056/5 ( reviews)

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Book Synopsis Dynamic lot sizing problems with stochastic production output by : Michael Kirste

Download or read book Dynamic lot sizing problems with stochastic production output written by Michael Kirste. This book was released on 2017-06-23. Available in PDF, EPUB and Kindle. Book excerpt: In the real world, production systems are affected by external and internal uncertainties. Stochastic demand - an external uncertainty - arises mainly due to forecast errors and unknown behavior of customers in future. Internal uncertainties occur in situations where random yield, random production capacity, or stochastic processing times affect the productivity of a manufacturing system. The resulting stochastic production output is especially present in industries with modern and complex technologies as the semiconductor industry. This thesis provides model formulations and solution methods for capacitated dynamic lot sizing problems with stochastic demand and stochastic production output that can be used by practitioners within Manufacturing Resource Planning Systems (MRP), Capacitated Production Planning Systems (CPPS), and Advanced Planning Systems (APS). In all models, backordered demand is controlled with service levels. Numerical studies compare the solution methods and give managerial implications in presence of stochastic production output. This book addresses practitioners, consultants, and developers as well as students, lecturers, and researchers with focus on lot sizing, production planning, and supply chain management.

Stochastic Dynamic Lot-Sizing in Supply Chains

2015-10-01 Business & Economics
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Release : 2015-10-01
Genre : Business & Economics
Kind : eBook
Book Rating : 972/5 ( reviews)

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Book Synopsis Stochastic Dynamic Lot-Sizing in Supply Chains by : Timo Jannis Hilger

Download or read book Stochastic Dynamic Lot-Sizing in Supply Chains written by Timo Jannis Hilger. This book was released on 2015-10-01. Available in PDF, EPUB and Kindle. Book excerpt: Companies frequently operate in an uncertain environment and many real life production planning problems imply volatility and stochastics of the customer demands. Thereby, the determination of the lot-sizes and the production periods significantly affects the profitability of a manufacturing company and the service offered to the customers. This thesis provides practice-oriented formulations and variants of dynamic lot-sizing problems in presence of restricted production resources and demand uncertainty. The demand fulfillment is regulated by service level constraints. Additionally, integrated production and remanufacturing planning under demand and return uncertainty in closed-loop supply chains is addressed. This book offers introductions to these problems and presents approximation models that can be applied under uncertainty. Comprehensive numerical studies provide managerial implications. The book is written for practitioners interested in supply chain management and production as well as for lecturers and students in business studies with a focus on supply chain management and operations management.

Inventory Analytics

2020-06-02 Business & Economics
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Release : 2020-06-02
Genre : Business & Economics
Kind : eBook
Book Rating : 71X/5 ( reviews)

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Book Synopsis Inventory Analytics by : Horst Tempelmeier

Download or read book Inventory Analytics written by Horst Tempelmeier. This book was released on 2020-06-02. Available in PDF, EPUB and Kindle. Book excerpt: This textbook provides a practice-oriented introduction into Analytics-based inventory management in complex supply chains. In the context of Business Analytics, we concentrate on Prescriptive Analytics. In addition to standard single-level inventory models also multi-level approaches for the optimal allocation of safety inventory are presented. Moreover, dynamic lot sizing problems under random demand and random yield and their relationship to Material Requirements Planning (MRP) are discussed.The models and algorithms are illustrated with the help of numerous examples. The book has been written for students of Supply Chain Management and Operations Management as well as for practitioners who are confronted with inventory management in their daily work.

An Improved Algorithm for Dynamic Lot Sizing Problem with Learning Effect in Setups

1990 Algorithms
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Release : 1990
Genre : Algorithms
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Book Synopsis An Improved Algorithm for Dynamic Lot Sizing Problem with Learning Effect in Setups by : Kavindra Malik

Download or read book An Improved Algorithm for Dynamic Lot Sizing Problem with Learning Effect in Setups written by Kavindra Malik. This book was released on 1990. Available in PDF, EPUB and Kindle. Book excerpt:

Optimality of Myopic Policies for Dynamic Lot-Sizing Problems in Serial Production Lines with Random Yields and Autoregressive Demand

2012
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Release : 2012
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Book Synopsis Optimality of Myopic Policies for Dynamic Lot-Sizing Problems in Serial Production Lines with Random Yields and Autoregressive Demand by : Matthew J. Sobel

Download or read book Optimality of Myopic Policies for Dynamic Lot-Sizing Problems in Serial Production Lines with Random Yields and Autoregressive Demand written by Matthew J. Sobel. This book was released on 2012. Available in PDF, EPUB and Kindle. Book excerpt: We study lot-size policies in a serial, multi-stage, manufacturing/inventory system with two key generalizations, namely (1) random yields at each production stage and (2) an autoregressive demand process. Previous research shows that the optimal policies in models with random yields (even in models with a single installation) lack the familiar order-up-to structure and are not myopic. Thus, dynamic programming algorithms are needed to compute optimal policies and one encounters the “curse of dimensionality;” this is exacerbated here by the need to expand the size and dimension of the state space to accommodate the autoregressive demand feature. Nevertheless, although our model is more complex, we prove that there is an optimal policy with the order-up-to feature and, more importantly, that the optimal policy is myopic. This avoids the computational burden of dynamic programming. Our results depend on two assumptions concerning the stochastic yield, namely that the expected yield at a work station is proportional to the lot size, and the distribution of the deviation of the yield from its mean does not depend on the lot size. We introduce the concept of echelon-like variables to derive the structure of optimal policies; this is a generalization of the echelon variables in Clark and Scarf (1960). Furthermore, we show that the same kind of policy is optimal for several criteria: infinite-horizon discounted cost, infinite-horizon long-run average cost, and finite-horizon discounted cost (with the appropriate choice of the salvage value function).

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