Analysis of admission and inventory control policies for make-to-stock production networks

URI	http://purl.tuc.gr/dl/dias/A2F6630C-E72E-49A7-96F7-631566CACC55	-
Language	en	-
Extent	6 pages	en
Title	Analysis of admission and inventory control policies for make-to-stock production networks	en
Creator	Kouikoglou Vasilis	en
Creator	Κουϊκογλου Βασιλης	el
Creator	Yannis Phillis	en
Creator	Φιλλης Ιωαννης	el
Creator	Sotiris Ioannidis	en
Publisher	Institute of Electrical and Electronics Engineers	en
Content Summary	This article is concerned with the control of inventories and sales in a manufacturing system that produces one product to meet random demand. The objective is to specify critical stock levels and either maximum backlog levels or backordering probabilities so as to maximize the mean profit rate of the system. Four policies are investigated: lost sales, complete backordering, randomized admission, and partly lost sales. The optimal parameters for each policy are determined using queueing theory and convex analysis. Numerical results show that determining the base stock and the base backlog jointly achieves higher profit than the other control policies.	en
Type of Item	Πλήρης Δημοσίευση σε Συνέδριο	el
Type of Item	Conference Full Paper	en
License	http://creativecommons.org/licenses/by/4.0/	en
Date of Item	2015-11-07	-
Date of Publication	2004	-
Bibliographic Citation	S. Ioannidis, V.S. Kouikoglou, Y. Phillis ," Analysis of admission and inventory control policies for make-to-stock production networks," in World Automation Congress, 2004 ,pp. 353-358.	en

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