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Article: Multivariate Markov chain models for production planning

TitleMultivariate Markov chain models for production planning
Authors
Zhu, DMChing, WK
KeywordsMultivariate Markov chain models
Categorical data sequences
Demand prediction
Newsboy problem
Production planning
Issue Date2011
PublisherInderscience Publishers. The Journal's web site is located at http://www.inderscience.com/IJIEI
Citation
International Journal of Intelligent Engineering Informatics, 2011, v. 1 n. 2, p. 156-173 How to Cite?
AbstractMarkov models are commonly used in modelling many practical systems such as queueing networks, manufacturing systems and inventory systems. In this paper, we consider a multivariate Markov chain model for modelling multiple categorical data sequences. We develop new efficient estimation methods for the model parameters. We then apply the model and methods to demand predictions and production planning for a soft-drink company in Hong Kong. This problem is essentially a newsboy's problem in a multivariate Markov chain framework. Numerical examples are given to demonstrate the effectiveness of the proposed methods.
Persistent Identifierhttp://hdl.handle.net/10722/133626
ISSN
1758-8715
2023 Impact Factor: 1.6

 

DC FieldValueLanguage
dc.contributor.authorZhu, DMen_US
dc.contributor.authorChing, WKen_US
dc.date.accessioned2011-05-24T02:12:17Z-
dc.date.available2011-05-24T02:12:17Z-
dc.date.issued2011en_US
dc.identifier.citationInternational Journal of Intelligent Engineering Informatics, 2011, v. 1 n. 2, p. 156-173en_US
dc.identifier.issn1758-8715-
dc.identifier.urihttp://hdl.handle.net/10722/133626-
dc.description.abstractMarkov models are commonly used in modelling many practical systems such as queueing networks, manufacturing systems and inventory systems. In this paper, we consider a multivariate Markov chain model for modelling multiple categorical data sequences. We develop new efficient estimation methods for the model parameters. We then apply the model and methods to demand predictions and production planning for a soft-drink company in Hong Kong. This problem is essentially a newsboy's problem in a multivariate Markov chain framework. Numerical examples are given to demonstrate the effectiveness of the proposed methods.-
dc.languageengen_US
dc.publisherInderscience Publishers. The Journal's web site is located at http://www.inderscience.com/IJIEI-
dc.relation.ispartofInternational Journal of Intelligent Engineering Informaticsen_US
dc.rightsInternational Journal of Intelligent Engineering Informatics. Copyright © Inderscience Publishers.-
dc.subjectMultivariate Markov chain models-
dc.subjectCategorical data sequences-
dc.subjectDemand prediction-
dc.subjectNewsboy problem-
dc.subjectProduction planning-
dc.titleMultivariate Markov chain models for production planningen_US
dc.typeArticleen_US
dc.identifier.openurlhttp://library.hku.hk:4550/resserv?sid=HKU:IR&issn=1758-8715&volume=1&issue=2&spage=156&epage=173&date=2011&atitle=Multivariate+Markov+chain+models+for+production+planning-
dc.identifier.emailZhu, DM: dongmeizhu86@gmail.comen_US
dc.identifier.emailChing, WK: wching@hku.hk-
dc.identifier.hkuros185363en_US
dc.identifier.volume1en_US
dc.identifier.issue2-
dc.identifier.spage156en_US
dc.identifier.epage173en_US
dc.identifier.issnl1758-8715-

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