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Control Number312565
Date and Time of Latest Transaction20150706093829.AM
General Information150706s |||||||||b ||00|||
Cataloging SourceSTII-DOST
Local Call NumberSciencedirect
Main Entry - Personal NameMetters, Richard
 Vargas, Vicente
Title StatementA master production scheduling procedure for stochastic demand and rolling planning horizons by Vicente Vargas and Richard Metters
Physical Descriptionpages 296-302 computer file; text; 174kb
Summary, Etc.The problem of interest is a one product, uncapacitated master production schedule (MPS) in which decisions are made under rolling planning horizons. Demand is stochastic and time varying, and effectiveness is measured by inventory holding, production setup, and backorder costs. Typically, in both the research literature and the business practice the stochastic nature of the problem is modeled in an ad hoc fashion. The stochastic MPS problem is usually solved by adding safety stock to production quantities obtained from a deterministic lot-sizing algorithm. Here, the stochastic nature of the problem is explicitly considered, as an optimal algorithm for solving the static probabilistic dynamic lot-sizing problem is adapted to rolling planning horizons. The resulting algorithm is found to dominate traditional approaches over a wide variety of experimental factors, reducing total costs by an average of 16% over traditional methods
Subject Added Entry - Topical TermInventory control -- Analysis
 Social sciences
 Algorithms -- Analysis
 Inventory management
LocationDOST STII Sciencedirect NONPRINTS NP 14-16044 1 14-16044 Online/Download 2012-01-19
  
     
 
Physical Location
Department of Science and Technology
Science and Technology Information InstituteSciencedirect
  
     
 
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