Stochastic approximations for optimal buffer capacity of many-station production lines

J.K. Cochran, A. Kokangul and T.A. Khaniyev

International Journal of Mathematics in Operational Research, 2009, vol. 1, issue 1/2, 211-227

Abstract: Probabilistic processing times, times between breakdowns and repair times make the amount of stock in buffers between stations in production lines behave as a stochastic process. Too much or too little buffer stock reduces system economy and efficiency, respectively. We obtain optimum buffer capacities and initial stock levels for production lines employing a mathematical random walk approach based on the maximum and minimum values of a stochastic process in a time window. Two approximations are developed, each useful under different risk-acceptance assumptions. Simulation results populate the equations. A motivating case study from a discrete part manufacturing line, including an example of using regression on the simulated results, is presented.

Keywords: buffer size; many-station production lines; maximum; minimum; stochastic approximations; optimisation; buffer capacity; random walk; risk acceptance; simulation; discrete parts manufacturing; regression. (search for similar items in EconPapers)
Date: 2009
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