Boundary Conditions for Generalized Hedging Point Policies in Stochastic Manufacturing Systems

Christian van Delft ()
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Christian van Delft: GREGH - Groupement de Recherche et d'Etudes en Gestion à HEC - HEC Paris - Ecole des Hautes Etudes Commerciales - CNRS - Centre National de la Recherche Scientifique

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Abstract: The production control, via hedging point policies, of a single part type manufacturing system with stochastic capacity and demand is discussed. In the present paper, several feasible operational modes may correspond to equal hedging points. For such generalized hedging point policies, we establish specific boundary conditions around the hedging points, which permit to compute the stationary probability density function for the hybrid state of the system.

Keywords: Flow control in failure prone manufacturing systems; generalized hedging point policy; stationary probability density functions; boundary conditions (search for similar items in EconPapers)
Date: 2000
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Published in 2000

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Persistent link: https://EconPapers.repec.org/RePEc:hal:wpaper:hal-00597238

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