Chance-Constraint-Based Heuristics for Production Planning in the Face of Stochastic Demand and Workload-Dependent Lead Times

Tarik Aouam () and Reha Uzsoy ()
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Tarik Aouam: Al Akhawayn University
Reha Uzsoy: North Carolina State University

A chapter in Decision Policies for Production Networks, 2012, pp 173-208 from Springer

Abstract: Abstract While the problem of planning production in the face of uncertain demand has been studied in various forms for decades, there is still no completely satisfactory solution approach. In this chapter we propose several heuristics based on chance-constrained models for a simple single stage single product system with workload-dependent lead times, which we compare to two-stage and multi-stage stochastic programing formulations. Exploratory computational experiments show promising performance for the heuristics, and raise a number of interesting issues that arise in comparing solutions obtained by the different approaches.

Keywords: Lead Time; Planning Horizon; Fill Rate; Scenario Tree; Safety Stock (search for similar items in EconPapers)
Date: 2012
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DOI: 10.1007/978-0-85729-644-3_8

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