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Details for article 56 of 67 found articles
| Title: |
Revenue management in single-stage CONWIP production systems |
| Author: |
Ioannidis, S. Kouikoglou, V. S. |
| Appeared in: |
International journal of production research |
| Paging: | Volume 46 (2008) nr. 22 pages 6513-6532 |
| Year: |
2008-11 |
| Contents: |
We study a joint admission/inventory control problem for a manufacturing system producing one product to meet random demand. The system employs a constant work- in-process policy (CONWIP) whereby the total inventory of raw material and finished items is kept constant, and accepts orders only as long as the backlog is below a certain level. The objective is to determine the CONWIP and backlog levels that maximize the mean profit rate of the system. The system is modelled as a single server with a finite queue. It turns out that the mean profit rate is either concave or decreasing in one control parameter and also decreasing for large values of the other control parameter. A simple algorithm is developed which tracks down the globally optimum design in finite time. Numerical results show that the joint admission/inventory control policy achieves higher profit than other production control policies that have been examined in the literature. |
| Publisher: |
Taylor & Francis |
| Source file: |
Elektronische Wetenschappelijke Tijdschriften |
Details for article 56 of 67 found articles
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