dc.contributor.author | Graves, Stephen C. | en_US |
dc.contributor.author | Keilson, Julian | en_US |
dc.date.accessioned | 2004-05-28T19:35:50Z | |
dc.date.available | 2004-05-28T19:35:50Z | |
dc.date.issued | 1978-07 | en_US |
dc.identifier.uri | http://hdl.handle.net/1721.1/5364 | |
dc.description.abstract | 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. | en_US |
dc.description.sponsorship | Research supported, in part, by the Office of Naval Research under Contract N00014-75-C-0556. | en_US |
dc.format.extent | 1746 bytes | |
dc.format.extent | 1082337 bytes | |
dc.format.mimetype | application/pdf | |
dc.language.iso | en_US | en_US |
dc.publisher | Massachusetts Institute of Technology, Operations Research Center | en_US |
dc.relation.ispartofseries | Operations Research Center Working Paper;OR 077-78 | en_US |
dc.title | The Compensation Method Applied to a One-Product Production Inventory Problem | en_US |
dc.type | Working Paper | en_US |