scholarly journals Mass Customization Production Planning System by Advance Demand Information Based on Unfulfilled-order-rate: II-Performance Analysis of Unfulfilled-order-rates and Relationship to Base-stock Policy with Multi-period

2011 ◽  
Vol 24 (3) ◽  
pp. 43-53
Author(s):  
Nobuyuki Ueno ◽  
Kiyotaka Kadomoto ◽  
Koji Okuhara
Keyword(s):  
Performance Analysis ◽  
Production Planning ◽  
Mass Customization ◽  
Base Stock ◽  
Planning System ◽  
Advance Demand Information ◽  
Order Rate ◽  
Base Stock Policy ◽  
Demand Information ◽  
Stock Policy

OPTIMAL PRODUCTION POLICIES WITH MULTISTAGE STOCHASTIC DEMAND LEAD TIMES

2009 ◽  
Vol 23 (3) ◽  
pp. 515-543 ◽  
Author(s):  
Jung-Hyun Kim ◽  
Hyun-Soo Ahn ◽  
Rhonda Righter
Keyword(s):  
Optimal Policy ◽  
Numerical Study ◽  
Base Stock ◽  
Optimal Production ◽  
Base Stock Policy ◽  
Production Policy ◽  
Markov Decision ◽  
Demand Information ◽  
Stock Policy ◽  
The Impact

We study the value of multistage advance demand information (MADI) in a production system in which customers place an order in advance of their actual need, and each order goes through multiple stages before it becomes due. Any order that is not immediately filled at its due date will be backordered. The producer must decide whether or not to produce based on real-time information regarding current and future orders. We formulate the problem as a Markov decision process and analyze the impact of the demand information on the production policy and the cost. We show that the optimal production policy is a state-dependent base-stock policy, and we show that it has certain monotonicity properties. We also introduce a simple heuristic policy that is significantly easier to compute and that inherits the structural properties of the optimal policy. In addition, we show that its base-stock levels bound those of the socially optimal policy. Numerical study identifies the conditions under which MADI is most beneficial and shows that the heuristic performs almost as well as the optimal policy when MADI is most beneficial.

scholarly journals Base Stock Policy in a Join-Type Production Line with Advanced Demand Information

2007 ◽  
Vol 1 (3) ◽  
pp. 399-407
Author(s):  
Mikihiko HIRAIWA ◽  
Satoshi TSUBOUCHI ◽  
Koichi NAKADE
Keyword(s):  
Production Line ◽  
Base Stock ◽  
Base Stock Policy ◽  
Demand Information ◽  
Stock Policy

Optimality of Base Stock Policy under Unknown Demand Distributions: New Results and a New Method

2021 ◽  
Author(s):  
Alain Bensoussan ◽  
Suresh Sethi ◽  
Abdoulaye Thiam ◽  
Janos Turi
Keyword(s):  
Base Stock ◽  
New Method ◽  
Base Stock Policy ◽  
Stock Policy

scholarly journals Base stock policy with retrial demands

2013 ◽  
Vol 37 (6) ◽  
pp. 4464-4473 ◽  
Author(s):  
N. Anbazhagan ◽  
Jinting Wang ◽  
D. Gomathi
Keyword(s):  
Base Stock ◽  
Base Stock Policy ◽  
Stock Policy

Service Level Relationships in Multi-stage Systems under the Base Stock Policy

OPSEARCH ◽  
2002 ◽  
Vol 39 (3-4) ◽  
pp. 230-242
Author(s):  
Subrata Mitra ◽  
Ashis K. Chatterjee
Keyword(s):  
Service Level ◽  
Base Stock ◽  
Base Stock Policy ◽  
Multi Stage ◽  
Stock Policy
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