A series-type multistage production system with random demand

Ying-Chieh Chen

International Journal of Mathematics and Mathematical Sciences, 2003, vol. 2003, 1-15

Abstract:

We propose a mathematical model which considers the series-type product structure with n − 1 predecessors. Our objective is to obtain the optimal production functions, in the planning horizon [ 0 , T ] , based on the assumptions (1) that the cost of production unit is a linear function of production quantity in a time unit, (2) that sales of finished goods occur at the end of planning horizon, and (3) that product demand is a random variable. Then the phenomenon of optimal solution is discussed.

Date: 2003
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Persistent link: https://EconPapers.repec.org/RePEc:hin:jijmms:273967

DOI: 10.1155/S0161171203112100

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