Optimal production run for a process with random linear drift

M. A. Rahim and P. K. Banerjee

Omega, 1988, vol. 16, issue 4, 347-351

Abstract: This paper considers the problem of selecting the optimal production run for a process with random linear drifts. A cost function per unit of finished product is derived. A search algorithm as well as a graphical method are suggested to find the optimal production run. Numerical examples are provided to illustrate how to determine the optimal production run. Finally, a sensitivity analysis of the model is performed.

Date: 1988
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Citations: View citations in EconPapers (6)

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