Boundary conditions for generalized hedging point policies in stochastic manufacturing systems

The production control, via hedging point policies, of a single part type manufacturing system with stochastic capacity and demand is discussed. In the present paper, several feasible operational modes may correspond to equal hedging points. For such generalized hedging point policies, we establish specific boundary conditions around the hedging points, which permit to compute the stationary probability density function for the hybrid state of the system.

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Year of publication:	1999-08-04
Authors:	VAN DELFT, Christian
Institutions:	HEC Paris (École des Hautes Études Commerciales)
Subject:	Flow control in failure prone manufacturing systems \| generalized hedging point policy \| stationary probability density functions \| boundary conditions

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Series:	Les Cahiers de Recherche.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series Les Cahiers de Recherche - Groupe HEC Number 692 12 pages
Classification:	D24 - Production; Capital and Total Factor Productivity; Capacity ; M11 - Production Management
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005106607