The Compensation Method Applied to a One-Product Production Inventory Problem

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DC Field	Value	Language
dc.creator	Graves, Stephen C.	-
dc.creator	Keilson, Julian	-
dc.date	2004-05-28T19:35:50Z	-
dc.date	2004-05-28T19:35:50Z	-
dc.date	1978-07	-
dc.date.accessioned	2013-10-09T02:39:20Z	-
dc.date.available	2013-10-09T02:39:20Z	-
dc.date.issued	2013-10-09	-
dc.identifier	http://hdl.handle.net/1721.1/5364	-
dc.identifier.uri	http://koha.mediu.edu.my:8181/xmlui/handle/1721	-
dc.description	This paper considers a one-product, one-machine production/inventory probelm. Demand requests for the product are governed by a Poisson process with demand size being an exponential random variable. The production facility may be in production or idle; while in production, the facility produces continuously at a constant rate. The objective is to minimize system costs consisting of setup costs, inventory holding costs, and backorder costs. Given a two-critical-number policy, the problem is analyzed as a constrained Markov process using the compensation method. The policy space may then be searched to find the optimal policy.	-
dc.description	Research supported, in part, by the Office of Naval Research under Contract N00014-75-C-0556.	-
dc.format	1746 bytes	-
dc.format	1082337 bytes	-
dc.format	application/pdf	-
dc.language	en_US	-
dc.publisher	Massachusetts Institute of Technology, Operations Research Center	-
dc.relation	Operations Research Center Working Paper;OR 077-78	-
dc.title	The Compensation Method Applied to a One-Product Production Inventory Problem	-
dc.type	Working Paper	-
Appears in Collections:	MIT Items

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