Optimal buffer inventories for multistage production systems with failures

Paul A. Jensen; Ramakrishnan Pakath; James R. Wilson

doi:10.1016/0377-2217(91)90307-H

Optimal buffer inventories for multistage production systems with failures

Paul A. Jensen, Ramakrishnan Pakath, James R. Wilson

Finance and Quantitative Methods

Research output: Contribution to journal › Article › peer-review

6 Scopus citations

Abstract

Recently, several procedures have been developed to solve the problem of optimal location and sizing for buffer inventories in a serial production system that is subject to random variations in the magnitude or timing of stage failures, repair times, and demands for finished goods. To handle production systems of realistic complexity, we have developed a simplified mathematical modek and an efficient solution procedure based on dynamic programming. The solution procedire has been implemented in a portable, public-domain computer program which can also be applied to nonserial systems with diverging branches. We illustrate the procedure using a hypothetical diverging-branch system with 15 stages.

Original language	English
Pages (from-to)	313-326
Number of pages	14
Journal	European Journal of Operational Research
Volume	51
Issue number	3
DOIs	https://doi.org/10.1016/0377-2217(91)90307-H
State	Published - Apr 15 1991

Bibliographical note

Funding Information:
Dr. Ramakrishnan Pakath's research is partially supported by a Special Summer Faculty Research Fellowship awarded to Dr. Pakath from the President's Fund for Excellence, University of Kentucky, Lexington, Kentucky. Dr. James R. Wilson's research is partially based upon work supported by the National Science Foundation under Grant No. DMS-8717799. The U.S. Government has certain rights in this material.

Keywords

Inventory
dynamic programming
production
systems

ASJC Scopus subject areas

General Computer Science
Modeling and Simulation
Management Science and Operations Research
Information Systems and Management

Access to Document

10.1016/0377-2217(91)90307-H

Cite this

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N2 - Recently, several procedures have been developed to solve the problem of optimal location and sizing for buffer inventories in a serial production system that is subject to random variations in the magnitude or timing of stage failures, repair times, and demands for finished goods. To handle production systems of realistic complexity, we have developed a simplified mathematical modek and an efficient solution procedure based on dynamic programming. The solution procedire has been implemented in a portable, public-domain computer program which can also be applied to nonserial systems with diverging branches. We illustrate the procedure using a hypothetical diverging-branch system with 15 stages.

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Optimal buffer inventories for multistage production systems with failures

Abstract

Bibliographical note

Keywords

ASJC Scopus subject areas

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