The book is concerned with the problems of inventory and supply chain decision making with information updating over time. The models considered include inventory decisions with multiple sources and delivery modes, supply-contract design and evaluation, contracts with exercise price,...

This paper considers a production-inventory problem in which the manufacturer participates in an energy buy-back program, which offers him probabilistic opportunities with rewards for not using electricity. That is, the manufacturer will get paid for stopping production to save on electricity....

This paper deals with an asymptotic analysis of hierarchical production planning in stochastic manufacturing systems consisting of a single or parallel failure-prone machines producing a number of different products without attrition. The objective is to choose production rates over time in...

This paper is concerned with the problem of production planning in a stochastic manufacturing system with serial machines that are subject to breakdown and repair. The machine capacities are modeled by a Markov chain. The objective is to choose the input rates at the various machines over time...

This paper is concerned with the problem of production planning in a stochastic manufacturing system with serial machines that are subject to breakdown and repair. The machine capacities are modeled as Markov chains. Since the number of parts in the internal buffers between any two the problem...

This paper is concerned with optimal production planning on a single failure-prone flexible machine that produces N distinct part types. The machine is flexible in the sense that no setup is required for switching from production of one part type to another. We consider the problem of...

Recently, the production control problem in stochastic manufacturing systems has generated a great deal of interest. The goal is to obtain production rates to minimize total expected surplus and production cost. This paper reviews the research devoted to minimum average cost production planning...