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This paper considers an infinite horizon stochastic production planning problem with the constraint that production rate must be nonnegative. It is shown that an optimal feedback solution exists for the problem. Moreover, this solution is characterized and is then compared with the solution of...
Persistent link: https://www.econbiz.de/10012746449
This paper considers an infinite horizon stochastic production planning problem with demand assumed to be a continuous-time Markov chain. The problems with control (production) and state (inventory) constraints are treated. It is shown that a unique optimal feedback solution exists, after first...
Persistent link: https://www.econbiz.de/10012746800
This paper considers optimal infinite horizon stochastic production planning problems with capacity and demand to be finite state Markov chains. The existence of the optimal feedback control is shown with the aid of viscosity solutions to the dynamic programming equations. Turnpike set concepts...
Persistent link: https://www.econbiz.de/10012750264
This paper presents an asymptotic analysis of a stochastic manufacturing system consisting of parallel machines subject to breakdown and repair and facing a constant demand, as the rates of change of the machine states approach infinity. This situation gives rise to a limiting problem in which...
Persistent link: https://www.econbiz.de/10012720681
Persistent link: https://www.econbiz.de/10014098097
In this paper, we treat an optimal control problem of a stochastic two-machine flowshop with machines subject to random breakdown and repair. While the problem is difficult to solve, it can be approximated by a deterministic problem when the rates of machine failure and repair become large....
Persistent link: https://www.econbiz.de/10014046911
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...
Persistent link: https://www.econbiz.de/10014047578
This paper is concerned with an asymptotic analysis of hierarchical production planning in a stochastic manufacturing system consisting of machines that are subject to breakdown and repair. The system produces a single product whose rate of demand over time is constant. The problem is formulated...
Persistent link: https://www.econbiz.de/10014047633
We consider a production planning problem in a two-machine flowshop subject to breakdown and repair of machines and subject to nonnegativity and upper bound constraints on work-in-process. The objective is to choose machine production rates over time to minimize the long-run average...
Persistent link: https://www.econbiz.de/10014218557
This paper presents an asymptotic analysis of stochastic manufacturing systems consisting of machines in tandem subject to breakdown and repair and facing a constant demand, as the rates of change of the machine states approach infinity. This situation gives rise to a limiting problem in which...
Persistent link: https://www.econbiz.de/10012772136