Displaying similar documents to “A Concept of an Expert System for Spare Parts Inventory Classification”

Two hedging points policy for an unreliable manufacturing system

Ryszarda Rempała (2002)

Applicationes Mathematicae

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This paper deals with an unreliable manufacturing system in which limited backlog is allowed. An admissible production policy is described by two decision parameters: upper and lower hedging points. The objective is to find the optimum hedging points so as to minimize the long run average expected cost under an additional condition. The condition expresses a constraint for the limiting probability of the event that the system stays at the lower hedging point, which corresponds to a limit...

Production-inventory system with finite production rate, stock-dependent demand, and variable holding cost

Hesham K. Alfares (2014)

RAIRO - Operations Research - Recherche Opérationnelle

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In general, traditional production-inventory systems are based on a number of simplifying – but somewhat unrealistic – assumptions, including constant demand rate, constant holding cost, and instantaneous order replenishment. These assumptions have been individually challenged in numerous variations of production-inventory models. Finite production rate models, such as economic production quantity (EPQ) systems consider gradual order replenishment. Stock-dependent demand models assume...

Optimal times of price reductions for an inventory model with partial backorder and vertical shift demand

Peng-Sheng You (2007)

RAIRO - Operations Research

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This paper investigates an inventory control problem where a firm orders and sells an inventory item through discount strategy in a price sensitive market. From the economic points of view, customers may expect a further price reduction when a firm uses pricing promotion to stimulate demand, the demand curve may vertically shift down when a firm reduces the selling price. Taking these phenomena into account, this paper developed a continuous inventory model for finding the ordering...