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Looks at quality management in a new way; Offers a very different mathematical tool set than traditionally employed for quality control problems; Yao is a leading researcher in the area of stochastic modeling and the author of a previous Springer book
We consider a production/inventory system consisting of one production line and multiple products. Finished goods are kept in stock to serve stochastic demand. Demand is fulfilled immediately if there is an item of the requested product in stock and otherwise it is backordered and fulfilled later. The production line is modeled as a non-preemptive single server and the objective is to minimize the sum of the average inventory holding costs and backordering costs. We investigate the structure of the optimal production policy, propose a new scheduling policy, and develop a method for calculating base stock levels under an arbitrary but given scheduling policy. The performance of the various production policies is evaluated in extensive numerical experiments.
Written by a leading researcher this book presents an introduction to Stochastic Petri Nets covering the modeling power of the proposed SPN model, the stability conditions and the simulation methods. Its unique and well-written approach provides a timely and important addition to the literature. Appeals to a wide range of researchers in engineering, computer science, mathematics and OR.
This text develops the mathematical implications of barriers to the geometrical and analytical characteristics of continuous location problems. The book will appeal to those working in operations research and management science, and mathematicians interested in optimization theory and its applications.
Apart from a thorough exploration of all the important concepts, this volume includes over 75 algorithms, ready for putting into practice. The book also contains numerous hands-on implementations of selected algorithms to demonstrate applications in realistic settings. Readers are assumed to have a sound understanding of calculus, introductory matrix analysis, and intermediate statistics, but otherwise the book is self-contained. Suitable for graduates and undergraduates in mathematics and engineering, in particular operations research, statistics, and computer science.
This book examines inventory and production strategies that can reduce unexpected breakdown costs. It highlights different EPQ models to deal with such problems, providing optimal value derivations for decision variables. It provides proofs for concavity or convexity of objective functions. The chapters also include numerical examples for all the developed mathematical models. Imperfect Inventory Systems: Inventory and Production Management and Breakdown should be useful for professionals working on supply chains, but also researchers in operations research and inventory management.