An inventory model for manufacturing systems with delivery time guarantees


Ching, Wai Ki (1998) An inventory model for manufacturing systems with delivery time guarantees. Computers & Operations Research, 25, (5), 367-377. (doi:10.1016/S0305-0548(97)00077-4).

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Description/Abstract

This paper studies optimal (s,S) policies for production planning in one-machine manufacturing systems. The machine produces one type of product with delivery time guarantees on the products offered to the customers. The inter-arrival time of the demand and the processing time for one unit of product are assumed to be exponentially distributed. The total delivery time (total lead time) consists of two parts: the cycle time and the delivery time. The cycle time is the time between the arrival of an order and the time requested product leaves the manufacturing system. The delivery time is the time from the manufacturing system to the customer. We model the delivery time by a shifted exponential distribution. Unbiased and consistent estimators are derived for this distribution. The analytical form of the steady state probability distribution for the inventory levels is derived. The average profit of the system can be written in terms of the resulting probability distribution. Hence the optimal (s,S) policy can be obtained by varying different possible values of s and S.

Item Type: Article
ISSNs: 0305-0548 (print)
Related URLs:
Subjects: T Technology > TS Manufactures
Q Science > QA Mathematics
Divisions: University Structure - Pre August 2011 > School of Mathematics > Operational Research
ePrint ID: 29744
Date Deposited: 19 Apr 2007
Last Modified: 27 Mar 2014 18:18
Contact Email Address: wkching@se.cuhk.edu.hk
URI: http://eprints.soton.ac.uk/id/eprint/29744

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