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Optimal Policies for Capacity Expansion Under Known Demand Growth

1970 Economic policy
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Release : 1970
Genre : Economic policy
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Book Synopsis Optimal Policies for Capacity Expansion Under Known Demand Growth by : Malcolm W. Kirby

Download or read book Optimal Policies for Capacity Expansion Under Known Demand Growth written by Malcolm W. Kirby. This book was released on 1970. Available in PDF, EPUB and Kindle. Book excerpt: The paper is concerned with optimal policies for a sequence of discrete capacity expansions in response to expected growth in demand over an arbitrary time interval. Demand refers to a single commodity. For each expansion, there are two decision variables: the size of the expansion and the time at which it occurs. Capacity expansion over time is a step function. Discounting is continuous. The problem is analogous to a class of inventory problems in which order quantities are substituted for capacity increases.

Optimal Capacity Expansion Under Uncertainty

2020
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Release : 2020
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Book Synopsis Optimal Capacity Expansion Under Uncertainty by : Mark H.A Davis

Download or read book Optimal Capacity Expansion Under Uncertainty written by Mark H.A Davis. This book was released on 2020. Available in PDF, EPUB and Kindle. Book excerpt: Capacity expansion is the process of providing new facilities over time to meet rising demand. A general mathematical model of this process is presented, incorporating uncertain future demand (including the possibility of 'surprises'), non-zero lead times and random cost overruns. In this model the decision maker controls the rate of investment in the current expansion project. Optimization is studied by methods of stochastic control theory. Numerical algorithms are presented which determine the optimal policy in some simple cases.

Optimal Strategies in Capacity Expansion

1970
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Release : 1970
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Book Synopsis Optimal Strategies in Capacity Expansion by : Avadhesh Kumar Nigam

Download or read book Optimal Strategies in Capacity Expansion written by Avadhesh Kumar Nigam. This book was released on 1970. Available in PDF, EPUB and Kindle. Book excerpt: The report deals with a capacity expansion problem. Given a certain increasing demand function for a product or a service and the costs of operating processing plants of different sizes, the problem is to find the optimal size of the plants to be built and their optimal installation times in order that the present value of all future costs incurred is a minimum. (Author).

Capacity Expansion with Technological Change

2002
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Release : 2002
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Book Synopsis Capacity Expansion with Technological Change by : Nattapol Pornsalnuwat

Download or read book Capacity Expansion with Technological Change written by Nattapol Pornsalnuwat. This book was released on 2002. Available in PDF, EPUB and Kindle. Book excerpt: Technological change is an important factor in capacity expansion problem. Its effect includes decreasing the unit cost of a product that provides capacity, thus it reduces the present worth cost of the expanded capacity. We study its impact by formulating dynamic programming models for several capacity expansion cases according to the types of demand growth, the existence of lead-time for construction, and incorporation of technological change. The objective function for the optimal policy is the total cost of expansion over an infinite time horizon. In the case without lead-time for construction, the calculation results show that technological change encourages the optimal policy to expand capacity at shorter time intervals between each successive expansion. In the case with lead-time for construction, the results show that the optimal policy for capacity expansion is to expand at shorter time intervals between each successive expansion with smaller expansion size. However, the optimal timing parameter is more sensitive to the penalty factor for capacity shortage than the technological parameters. On the other hand, the optimal sizing parameter is more sensitive to the technological parameters than the shortage penalty.

Optimal Capacity Expansion Under Growing Demand and Technological Progress

1971
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Release : 1971
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Book Synopsis Optimal Capacity Expansion Under Growing Demand and Technological Progress by : Jean Jaskold Gabszewicz

Download or read book Optimal Capacity Expansion Under Growing Demand and Technological Progress written by Jean Jaskold Gabszewicz. This book was released on 1971. Available in PDF, EPUB and Kindle. Book excerpt:

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