Optimal production run length for deteriorating production system with a two-state continuous-time Markovian processes under allowable shortages

Hou K-L ()
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Hou K-L: National Defense University, Chungho

Journal of the Operational Research Society, 2005, vol. 56, issue 3, 346-350

Abstract: Abstract The paper studies optimal production run length for a deteriorating production system in which the shortages are allowed and the deterioration processes are characterized by a two-state continuous-time Markov chain. We show that there exists a unique optimal production run length to minimize the expected total relevant cost. In addition, bounds for the optimal production run length are provided to develop the solution procedure. Finally, a numerical example is given to illustrate the results and sensitivity analysis is also performed

Keywords: production/manufacturing; deteriorating production system; shortages (search for similar items in EconPapers)
Date: 2005
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Citations: View citations in EconPapers (1)

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DOI: 10.1057/palgrave.jors.2601792

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