A branch-and-bound approach for the single machine maximum lateness stochastic scheduling problem to minimize the value-at-risk

M. Urgo () and J. Váncza ()
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M. Urgo: Politecnico di Milano
J. Váncza: Hungarian Academy of Sciences

Flexible Services and Manufacturing Journal, 2019, vol. 31, issue 2, No 9, 472-496

Abstract: Abstract The research in the field of robust scheduling aims at devising schedules which are not sensitive—to a certain extent—to the disruptive effects of unexpected events. Nevertheless, the protection of the schedule from rare events causing heavy losses is still a challenging aim. The paper presents a novel approach for protecting the quality of a schedule by assessing the risk associated to the different scheduling decisions. The approach is applied to a stochastic scheduling problem with a set of jobs to be sequenced on a single machine. The release dates and processing times of the jobs are generally distributed independent random variables, while the due dates are deterministic. A branch-and-bound approach is taken to minimise the value-at-risk of the distribution of the maximum lateness. The viability of the approach is demonstrated through a computational experiment and the application to an industrial problem in the tool making industry.

Keywords: Stochastic scheduling; Robust scheduling; Risk; Value-at-risk (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (2)

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DOI: 10.1007/s10696-018-9316-z

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