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Dynamic Scheduling in a Make-to-stock System: a Partial Characterisation of Optimal Policies Dynamic Scheduling in a Make-to-stock System: a Partial Characterisation of Optimal Policies
| Content Provider | Semantic Scholar |
|---|---|
| Author | Ericourt, Francis De V. Karaesmen, Fikri Dallery, Yves Véricourt, Francis De |
| Copyright Year | 1998 |
| Abstract | We consider the problem of dynamically allocating production capacity between two products to minimize the average inventory and backorder costs per unit time in a make-to-stock single machine system. Using sample path comparisons and dynamic programming, we give a characterization of the optimal hedging point policy for a certain region of the state space. The characterization is simple enough to lead to easily implementable heuristics and provides a formal justiication of some of the earlier heuristics proposed. |
| File Format | PDF HTM / HTML |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
