Information delays exist in an inventory system when it takes time to collect, process, validate, and transmit inventory/demand data. A general framework is developed in this paper to describe information flows in an inventory system with information delays. We characterize the suffcient...

Focuses on a study which developed a framework for forecast and decision horizons. Definition of finite and infinite horizon stochastic optimization problems for a given forecast; Description of the general framework; Conditions for the existence of a solution horizon; Development of sufficient...

This paper considers an infinite horizon stochastic production planning problem with demand assumed to be a continuous-time Markov process. Problems with control (production) and state (inventory) constraints are treated. It is shown that a unique optimal feedback solution exists. This solution...

This paper summarizes the results of its detailed version, which considers optimal infinite horizon stochastic production planning problems with capacity and demand to be finite state Markov chains. Turnpike set concepts are introduced to characterize the optimal inventory levels. It is shown...

We consider a production planning problem in an N-machine flowshop subject to breakdown and repair of machines and to non-negativity constraints on work-in process. The machine capacities and demand processes are assumed to be finite-state Markov chains. The problem is to choose the rates of...

This paper is concerned with the problem of production planning in a flexible manufacturing system consisting of a single or parallel failure-prone machines producing a number of different products. The objective is to choose the rates of production of the various products over time in order to...