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|Title:||Variations in optimizing serial multi-stage production/inventory systems|
|Authors:||Szendrovits, Andrew Z.|
Wesolowsky, George O.
McMaster University, Faculty of Business
|Series/Report no.:||Research and working paper series (McMaster University. Faculty of Business)|
|Abstract:||<p>This paper presents two basic, deterministic, infinite horizon models for a serial multi-stage production/ inventory system. One model assumes that the lot size is maintained through all production stages while transportation of equal sized sub-batches is allowed between stages. Consequently, only one set-up cost is incurred for each stage; however, the transportation cost of sub-batches must also be considered. An op timal solution is presented for this first model. The other model has varying lot sizes with lot-sized in tershipments assuming certain integrality restrictions on the splitting of lots and monotonically increasing stage inventory holding costs. A good approximation to the optimal solution is given for this second model. Comparison of the two models provides an insight into the characteristics of multi-stage production systems. The efficiency of the computational procedures des cribed is demonstrated with extensive computational experience.</p>|
|Description:||<p>9 leaves : ; Bibliography: leaf 9. ; Cover title.;"Appeared in the proceedings of the Conference on the Disaggregation Problem, Ohio State University, Columbus, Ohio, March, 1977."</p>|
|Appears in Collections:||DeGroote School of Business Working Paper Series|
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