Boundary conditions for generalized hedging point policies in stochastic manufacturing systems

Christian van Delft

No 692, HEC Research Papers Series from HEC Paris

Abstract: The production control, via hedging point policies, of a single part type manufacturing system with stochastic capacity and demand is discussed. In the present paper, several feasible operational modes may correspond to equal hedging points. For such generalized hedging point policies, we establish specific boundary conditions around the hedging points, which permit to compute the stationary probability density function for the hybrid state of the system.

Keywords: Flow control in failure prone manufacturing systems; generalized hedging point policy; stationary probability density functions; boundary conditions (search for similar items in EconPapers)
JEL-codes: D24 M11 (search for similar items in EconPapers)
Pages: 12 pages
Date: 1999-08-04
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Persistent link: https://EconPapers.repec.org/RePEc:ebg:heccah:0692

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