Dynamic lot sizing problems with stochastic production output

Dynamic lot sizing problems with stochastic production output PDF Author: Michael Kirste
Publisher: BoD – Books on Demand
ISBN: 3744838056
Category : Business & Economics
Languages : en
Pages : 250

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Book Description
In the real world, production systems are affected by external and internal uncertainties. Stochastic demand - an external uncertainty - arises mainly due to forecast errors and unknown behavior of customers in future. Internal uncertainties occur in situations where random yield, random production capacity, or stochastic processing times affect the productivity of a manufacturing system. The resulting stochastic production output is especially present in industries with modern and complex technologies as the semiconductor industry. This thesis provides model formulations and solution methods for capacitated dynamic lot sizing problems with stochastic demand and stochastic production output that can be used by practitioners within Manufacturing Resource Planning Systems (MRP), Capacitated Production Planning Systems (CPPS), and Advanced Planning Systems (APS). In all models, backordered demand is controlled with service levels. Numerical studies compare the solution methods and give managerial implications in presence of stochastic production output. This book addresses practitioners, consultants, and developers as well as students, lecturers, and researchers with focus on lot sizing, production planning, and supply chain management.

Dynamic lot sizing problems with stochastic production output

Dynamic lot sizing problems with stochastic production output PDF Author: Michael Kirste
Publisher: BoD – Books on Demand
ISBN: 3744838056
Category : Business & Economics
Languages : en
Pages : 250

Get Book Here

Book Description
In the real world, production systems are affected by external and internal uncertainties. Stochastic demand - an external uncertainty - arises mainly due to forecast errors and unknown behavior of customers in future. Internal uncertainties occur in situations where random yield, random production capacity, or stochastic processing times affect the productivity of a manufacturing system. The resulting stochastic production output is especially present in industries with modern and complex technologies as the semiconductor industry. This thesis provides model formulations and solution methods for capacitated dynamic lot sizing problems with stochastic demand and stochastic production output that can be used by practitioners within Manufacturing Resource Planning Systems (MRP), Capacitated Production Planning Systems (CPPS), and Advanced Planning Systems (APS). In all models, backordered demand is controlled with service levels. Numerical studies compare the solution methods and give managerial implications in presence of stochastic production output. This book addresses practitioners, consultants, and developers as well as students, lecturers, and researchers with focus on lot sizing, production planning, and supply chain management.

Innovative Technology at the Interface of Finance and Operations

Innovative Technology at the Interface of Finance and Operations PDF Author: Volodymyr Babich
Publisher: Springer Nature
ISBN: 3030757293
Category : Business & Economics
Languages : en
Pages : 304

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Book Description
This book examines the challenges and opportunities arising from an assortment of technologies as they relate to Operations Management and Finance. The book contains primers on operations, finance, and their interface. After that, each section contains chapters in the categories of theory, applications, case studies, and teaching resources. These technologies and business models include Big Data and Analytics, Artificial Intelligence, Machine Learning, Blockchain, IoT, 3D printing, sharing platforms, crowdfunding, and crowdsourcing. The balance between theory, applications, and teaching materials make this book an interesting read for academics and practitioners in operations and finance who are curious about the role of new technologies. The book is an attractive choice for PhD-level courses and for self-study.

Handbook of Information Exchange in Supply Chain Management

Handbook of Information Exchange in Supply Chain Management PDF Author: Albert Y. Ha
Publisher: Springer
ISBN: 3319324411
Category : Business & Economics
Languages : en
Pages : 398

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Book Description
Sharing accurate and timely supply and demand information throughout a supply chain can yield significant performance improvements to all members of the supply chain. Despite the benefits, many firms are reluctant to share information with their supply chain partners due to an unequal distribution of risks, costs, and benefits among the partners. Thus, incentive mechanisms must be in place to induce communication, cooperation, and collaboration among all members of a supply chain. The issue of Information exchange/sharing has been examined by various researchers over the last 15-20 years. However, there is no research book that compiles various approaches, analyses, key implications, as well as future development of this area. This book will serve as a handbook for researchers who are interested in learning the state of the art of the line of research in this area and explore open research topics in this area. Contributors, all leading researchers, have committed to delivering 18 chapters, broken into four distinct sections covering the Value of Information Sharing, Contracting and Information, Information Signaling, and Incentives for Information Sharing.

Supply Chain Structures

Supply Chain Structures PDF Author: Jing-Sheng Song
Publisher: Springer Science & Business Media
ISBN: 9780792375340
Category : Business & Economics
Languages : en
Pages : 464

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Book Description
In the foreword to Supply Chain Structures, Professor Paul Zipkin notes three global changes that have enabled the recent vast developments in the field of supply chains. Moreover, these changes may be only the beginning and more change is likely in the fast-moving field of supply chain management. These global changes are: the explosive growth of the Internet; the growth in free-market economies with the corresponding political interest in global economic stability; and the emergence of a global managerial culture focused on performance, quality, and service. Professor Zipkin goes on to say "In Supply Chain Structures, the editors Jeannette Song and David Yao have collected a spectrum of approaches to these challenges from some of the leading scholars of supply chains, from both the academic and commercial worlds. Each of the articles offers an interesting and illuminating way to think about the key issues in supply chain management. Some also offer practical techniques to solve important problems. Together they provide an excellent survey of the current state of the art in research and practice."

Inventory and Production Management in Supply Chains

Inventory and Production Management in Supply Chains PDF Author: Edward A. Silver
Publisher: CRC Press
ISBN: 1466558628
Category : Business & Economics
Languages : en
Pages : 810

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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.

Perishable Inventory Systems

Perishable Inventory Systems PDF Author: Steven Nahmias
Publisher: Springer Science & Business Media
ISBN: 1441979999
Category : Business & Economics
Languages : en
Pages : 89

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Book Description
A perishable item is one that has constant utility up until an expiration date (which may be known or uncertain), at which point the utility drops to zero. This includes many types of packaged foods such as milk, cheese, processed meats, and canned goods. It also includes virtually all pharmaceuticals and photographic film, as well as whole blood supplies. This book is the first devoted solely to perishable inventory systems. The book’s ten chapters first cover the preliminaries of periodic review versus continuous review and look at a one-period newsvendor perishable inventory model. The author moves to the basic multiperiod dynamic model, and then considers the extensions of random lifetime, inclusion of a set-up cost, and multiproduct models of perishables. A chapter on continuous review models looks at one-for-one policies, models with zero lead time, optimal policies with positive lead time, and an alternative approach. Additional chapters present material on approximate order policies, inventory depletion management, and deterministic models, including the basic EOQ model with perishability and the dynamic deterministic model with perishability. Finally, chapters explore decaying inventories, queues with impatient customers, and blood bank inventory control. Anyone researching perishable inventory systems will find much to work with here. Practitioners and consultants will also now have a single well-referenced source of up-to-date information to work with.

Efficiency and Anomalies in Stock Markets

Efficiency and Anomalies in Stock Markets PDF Author: Wing-Keung Wong
Publisher: Mdpi AG
ISBN: 9783036530802
Category : Business & Economics
Languages : en
Pages : 232

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Book Description
The Efficient Market Hypothesis believes that it is impossible for an investor to outperform the market because all available information is already built into stock prices. However, some anomalies could persist in stock markets while some other anomalies could appear, disappear and re-appear again without any warning. A Special Issue on "Efficiency and Anomalies in Stock Markets" will be devoted to advancements in the theoretical development of market efficiency and anomaly in the Stock Market, as well as applications in Stock Market efficiency and anomalies.

Inventory Management and Production Planning and Scheduling

Inventory Management and Production Planning and Scheduling PDF Author: Edward A. Silver
Publisher: Wiley
ISBN: 9780471119470
Category : Business & Economics
Languages : en
Pages : 0

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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.

The Economy as a Complex Spatial System

The Economy as a Complex Spatial System PDF Author: Pasquale Commendatore
Publisher: Springer
ISBN: 3319656279
Category : Science
Languages : en
Pages : 227

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Book Description
This book is open access under a CC BY-NC 4.0 license. This collected volume represents the final outcome of the COST Action IS1104 “The EU in the new complex geography of economic systems: models, tools and policy evaluation”. Visualizing the EU as a complex and multi-layered network, the book is organized in three parts, each of them dealing with a different level of analysis: At the macro-level, Part I considers the interactions within large economic systems (regions or countries) involving trade, workers migration, and other factor movements. At the meso-level, Part II discusses interactions within specific but wide-ranging markets, with a focus on financial markets and banking systems. Lastly, at the micro-level, Part III explores the decision-making of single firms, especially in the context of location decisions.

A Guide to Simulation

A Guide to Simulation PDF Author: P. Bratley
Publisher: Springer Science & Business Media
ISBN: 146840167X
Category : Science
Languages : en
Pages : 399

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Book Description
Simulation means driving a model of a system with suitable inputs and observing the corresponding outputs. It is widely applied in engineering, in business, and in the physical and social sciences. Simulation method ology araws on computer. science, statistics, and operations research and is now sufficiently developed and coherent to be called a discipline in its own right. A course in simulation is an essential part of any operations re search or computer science program. A large fraction of applied work in these fields involves simulation; the techniques of simulation, as tools, are as fundamental as those of linear programming or compiler construction, for example. Simulation sometimes appears deceptively easy, but perusal of this book will reveal unexpected depths. Many simulation studies are statistically defective and many simulation programs are inefficient. We hope that our book will help to remedy this situation. It is intended to teach how to simulate effectively. A simulation project has three crucial components, each of which must always be tackled: (1) data gathering, model building, and validation; (2) statistical design and estimation; (3) programming and implementation. Generation of random numbers (Chapters 5 and 6) pervades simulation, but unlike the three components above, random number generators need not be constructed from scratch for each project. Usually random number packages are available. That is one reason why the chapters on random numbers, which contain mainly reference material, follow the ch!lPters deal ing with experimental design and output analysis.