Organizational Nimbleness and Operational Policies: The Case of Optimal Control of Maintenance Under Uncertainty

Ali Dogramaci () and Suresh Sethi
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Ali Dogramaci: Bilkent University

A chapter in Dynamic Perspectives on Managerial Decision Making, 2016, pp 253-277 from Springer

Abstract: Abstract The speed with which an organization takes action against unplanned failure and scrapping of its capital equipment is used as a measure of organizational nimbleness. Operational decisions at the plant level are studied in terms of the optimal control model of Kamien and Schwarz for maintenance policy. In this context it is shown how the form of optimal policies at the lower operational levels change, as the degree of nimbleness in decision making at higher echelons of the organization is increased.

Keywords: Cash Flow; Optimal Control Problem; Planning Horizon; Shadow Price; Regeneration Point (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:spr:dymchp:978-3-319-39120-5_15

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DOI: 10.1007/978-3-319-39120-5_15

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