Author: C.A. Schneeweiss
Publisher: Springer Science & Business Media
ISBN: 3642953115
Category : Business & Economics
Languages : en
Pages : 124
Book Description
The term inventory-production theory is not well defined. It com prises e. g. such models like cash balance models, production smoothing models and pure inventory models. We shall here mainly be concerned with stochastic dynamic problems and shall give exact definitions in the next section. Most of our work will concentrate on cash balance models. However, production smoothing situations and pure inventory problems will also be investigated. Since we are faced in principle with dynamic stochastic situa tions a dynamic programming approach would be appropriate. This approach, however, due to computational restraints, is limited to only but the simplest models. Therefore, in practice, one ruduces stochastics just in taking forecasts of demand and then treating the problem as a deterministic optimization problem. In addition one often introduces certain safety stocks to safeguard the system from possible forecasting errors. In general, this proce dure is suboptimal. However, there exists one particular situa tion when a separation in a forecasting procedure and a subse quent optimization of the remaining deterministic model is not suboptimal. This is known as the linear-quadratic model, i. e. a model having linear system equations and a quadratic cost crite rion. For this type of model H. A. Simon ~3J and later H. Theil [25J have shown that the above separation property holds. In fact, Simon's and Theil's results are nothing else but what has later and more generally become known to control engineers as Kalman's famous separation principle.
Inventory-Production Theory
Author: C.A. Schneeweiss
Publisher: Springer Science & Business Media
ISBN: 3642953115
Category : Business & Economics
Languages : en
Pages : 124
Book Description
The term inventory-production theory is not well defined. It com prises e. g. such models like cash balance models, production smoothing models and pure inventory models. We shall here mainly be concerned with stochastic dynamic problems and shall give exact definitions in the next section. Most of our work will concentrate on cash balance models. However, production smoothing situations and pure inventory problems will also be investigated. Since we are faced in principle with dynamic stochastic situa tions a dynamic programming approach would be appropriate. This approach, however, due to computational restraints, is limited to only but the simplest models. Therefore, in practice, one ruduces stochastics just in taking forecasts of demand and then treating the problem as a deterministic optimization problem. In addition one often introduces certain safety stocks to safeguard the system from possible forecasting errors. In general, this proce dure is suboptimal. However, there exists one particular situa tion when a separation in a forecasting procedure and a subse quent optimization of the remaining deterministic model is not suboptimal. This is known as the linear-quadratic model, i. e. a model having linear system equations and a quadratic cost crite rion. For this type of model H. A. Simon ~3J and later H. Theil [25J have shown that the above separation property holds. In fact, Simon's and Theil's results are nothing else but what has later and more generally become known to control engineers as Kalman's famous separation principle.
Publisher: Springer Science & Business Media
ISBN: 3642953115
Category : Business & Economics
Languages : en
Pages : 124
Book Description
The term inventory-production theory is not well defined. It com prises e. g. such models like cash balance models, production smoothing models and pure inventory models. We shall here mainly be concerned with stochastic dynamic problems and shall give exact definitions in the next section. Most of our work will concentrate on cash balance models. However, production smoothing situations and pure inventory problems will also be investigated. Since we are faced in principle with dynamic stochastic situa tions a dynamic programming approach would be appropriate. This approach, however, due to computational restraints, is limited to only but the simplest models. Therefore, in practice, one ruduces stochastics just in taking forecasts of demand and then treating the problem as a deterministic optimization problem. In addition one often introduces certain safety stocks to safeguard the system from possible forecasting errors. In general, this proce dure is suboptimal. However, there exists one particular situa tion when a separation in a forecasting procedure and a subse quent optimization of the remaining deterministic model is not suboptimal. This is known as the linear-quadratic model, i. e. a model having linear system equations and a quadratic cost crite rion. For this type of model H. A. Simon ~3J and later H. Theil [25J have shown that the above separation property holds. In fact, Simon's and Theil's results are nothing else but what has later and more generally become known to control engineers as Kalman's famous separation principle.
Inventory-Production Theory
Author: C a Schneeweiss
Publisher:
ISBN: 9783642953125
Category :
Languages : en
Pages : 128
Book Description
Publisher:
ISBN: 9783642953125
Category :
Languages : en
Pages : 128
Book Description
Inventory-production theory
Author: Ch Schneeweiss
Publisher:
ISBN:
Category :
Languages : de
Pages :
Book Description
Publisher:
ISBN:
Category :
Languages : de
Pages :
Book Description
Foundations of Stochastic Inventory Theory
Author: Evan L. Porteus
Publisher: Stanford University Press
ISBN: 9780804743990
Category : Business & Economics
Languages : en
Pages : 330
Book Description
This book has a dual purpose?serving as an advanced textbook designed to prepare doctoral students to do research on the mathematical foundations of inventory theory, and as a reference work for those already engaged in such research. All chapters conclude with exercises that either solidify or extend the concepts introduced.
Publisher: Stanford University Press
ISBN: 9780804743990
Category : Business & Economics
Languages : en
Pages : 330
Book Description
This book has a dual purpose?serving as an advanced textbook designed to prepare doctoral students to do research on the mathematical foundations of inventory theory, and as a reference work for those already engaged in such research. All chapters conclude with exercises that either solidify or extend the concepts introduced.
Production and Inventory Control: Theory and Practice
Author: R. N. van Hees
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 396
Book Description
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 396
Book Description
Inventory and Production Management in Supply Chains
Author: Edward A. Silver
Publisher: CRC Press
ISBN: 1466558628
Category : Business & Economics
Languages : en
Pages : 810
Book Description
Authored by a team of experts, the new edition of this bestseller presents practical techniques for managing inventory and production throughout supply chains. It covers the current context of inventory and production management, replenishment systems for managing individual inventories within a firm, managing inventory in multiple locations and firms, and production management. The book presents sophisticated concepts and solutions with an eye towards today’s economy of global demand, cost-saving, and rapid cycles. It explains how to decrease working capital and how to deal with coordinating chains across boundaries.
Publisher: CRC Press
ISBN: 1466558628
Category : Business & Economics
Languages : en
Pages : 810
Book Description
Authored by a team of experts, the new edition of this bestseller presents practical techniques for managing inventory and production throughout supply chains. It covers the current context of inventory and production management, replenishment systems for managing individual inventories within a firm, managing inventory in multiple locations and firms, and production management. The book presents sophisticated concepts and solutions with an eye towards today’s economy of global demand, cost-saving, and rapid cycles. It explains how to decrease working capital and how to deal with coordinating chains across boundaries.
Multi-level Production/inventory Control Systems
Author: Leroy B. Schwarz
Publisher: North Holland
ISBN:
Category : Business & Economics
Languages : en
Pages : 416
Book Description
Publisher: North Holland
ISBN:
Category : Business & Economics
Languages : en
Pages : 416
Book Description
Inventory Management
Author: Mohamad Y. Jaber
Publisher: CRC Press
ISBN: 1420079980
Category : Business & Economics
Languages : en
Pages : 246
Book Description
As markets become more dynamic and competitive, companies must reconsider how they view inventory and make changes to their production and inventory systems. They must begin to think outside the classical box and develop a new paradigm of inventory management. Exploring the trend away from classical models based on economic order quantities to depe
Publisher: CRC Press
ISBN: 1420079980
Category : Business & Economics
Languages : en
Pages : 246
Book Description
As markets become more dynamic and competitive, companies must reconsider how they view inventory and make changes to their production and inventory systems. They must begin to think outside the classical box and develop a new paradigm of inventory management. Exploring the trend away from classical models based on economic order quantities to depe
Inventory in Theory and Practice
Author: Attila Chikán
Publisher: Akademiai Kiads
ISBN:
Category : Business & Economics
Languages : en
Pages : 818
Book Description
Publisher: Akademiai Kiads
ISBN:
Category : Business & Economics
Languages : en
Pages : 818
Book Description
Inventory Management and Production Planning and Scheduling
Author: Edward A. Silver
Publisher: Wiley
ISBN: 9780471119470
Category : Business & Economics
Languages : en
Pages : 0
Book Description
This is a revision of a classic which integrates managerial issues with practical applications, providing a broad foundation for decision-making. It incorporates recent developments in inventory management, including Just-in-Time Management, Materials Requirement Planning, and Total Quality Management.
Publisher: Wiley
ISBN: 9780471119470
Category : Business & Economics
Languages : en
Pages : 0
Book Description
This is a revision of a classic which integrates managerial issues with practical applications, providing a broad foundation for decision-making. It incorporates recent developments in inventory management, including Just-in-Time Management, Materials Requirement Planning, and Total Quality Management.