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Management of a high mix production system with interdependent demands : modeling of stochastic demands and the concept of virtual profit as a decomposition tool

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dc.contributor.advisor Stanley B. Gershwin. en_US
dc.contributor.author Serra, Maria Carolina en_US
dc.contributor.other Massachusetts Institute of Technology. Dept. of Mechanical Engineering. en_US
dc.date.accessioned 2010-05-25T21:07:10Z
dc.date.available 2010-05-25T21:07:10Z
dc.date.copyright 2009 en_US
dc.date.issued 2009 en_US
dc.identifier.uri http://hdl.handle.net/1721.1/55228
dc.description Thesis (M. Eng.)--Massachusetts Institute of Technology, Dept. of Mechanical Engineering, 2009. en_US
dc.description Cataloged from PDF version of thesis. en_US
dc.description Includes bibliographical references (p. 124-126). en_US
dc.description.abstract An optimized framework for the inventory control of a high mix production system has been designed in order to guarantee the optimal mix of items in stock in presence of correlated demands. The Virtual Profit concept was developed to measure the criticality of an item in presence of correlated demands. The introduction of the Virtual Profit in the optimization problem allowed the problem to be decomposed and the optimal control parameters to be computed separately. Demands were modeled based on the stochastic properties of the historical demand so that simulations could be performed using statistically generated orders. The simulations provided a validation of the proposed technique showing that, with the same size of inventory, considering the Virtual Profits instead of the real profits improves the quality of the solution, especially when low levels of inventory are kept. en_US
dc.description.statementofresponsibility by Maria Carolina Serra. en_US
dc.format.extent 126 p. en_US
dc.language.iso eng en_US
dc.publisher Massachusetts Institute of Technology en_US
dc.rights M.I.T. theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. See provided URL for inquiries about permission. en_US
dc.rights.uri http://dspace.mit.edu/handle/1721.1/7582 en_US
dc.subject Mechanical Engineering. en_US
dc.title Management of a high mix production system with interdependent demands : modeling of stochastic demands and the concept of virtual profit as a decomposition tool en_US
dc.type Thesis en_US
dc.description.degree M.Eng. en_US
dc.contributor.department Massachusetts Institute of Technology. Dept. of Mechanical Engineering. en_US
dc.identifier.oclc 611950615 en_US


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