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Article: A two-level hedging point policy for controlling a manufacturing system with time-delay, demand uncertainty and extra capacity

TitleA two-level hedging point policy for controlling a manufacturing system with time-delay, demand uncertainty and extra capacity
Authors
KeywordsControl
Hedging point policy
Networked manufacturing systems
Production
Time-delay
Issue Date2007
PublisherElsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/ejor
Citation
European Journal Of Operational Research, 2007, v. 176 n. 3, p. 1528-1558 How to Cite?
AbstractThis paper focuses on the production control of a manufacturing system with time-delay, demand uncertainty and extra capacity. Time-delay is a typical feature of networked manufacturing systems (NMS), because an NMS is composed of many manufacturing systems with transportation channels among them and the transportation of materials needs time. Besides this, for a manufacturing system in an NMS, the uncertainty of the demand from its downstream manufacturing system is considered; and it is assumed that there exist two-levels of demand rates, i.e., the normal one and the higher one, and that the time between the switching of demand rates are exponentially distributed. To avoid the backlog of demands, it is also assumed that extra production capacity can be used when the work-in-process (WIP) cannot buffer the high-level demands rate. For such a manufacturing system with time-delay, demand uncertainty and extra capacity, the mathematical model for its production control problem is established, with the objective of minimizing the mean costs for WIP inventory and occupation of extra production capacity. To solve the problem, a two-level hedging point policy is proposed. By analyzing the probability distribution of system states, optimal values of the two hedging levels are obtained. Finally, numerical experiments are done to verify the effectiveness of the control policy and the optimality of the hedging levels. © 2005.
Persistent Identifierhttp://hdl.handle.net/10722/74495
ISSN
2015 Impact Factor: 2.679
2015 SCImago Journal Rankings: 2.595
ISI Accession Number ID
References

 

DC FieldValueLanguage
dc.contributor.authorChan, FTSen_HK
dc.contributor.authorWang, Zen_HK
dc.contributor.authorZhang, Jen_HK
dc.date.accessioned2010-09-06T07:01:53Z-
dc.date.available2010-09-06T07:01:53Z-
dc.date.issued2007en_HK
dc.identifier.citationEuropean Journal Of Operational Research, 2007, v. 176 n. 3, p. 1528-1558en_HK
dc.identifier.issn0377-2217en_HK
dc.identifier.urihttp://hdl.handle.net/10722/74495-
dc.description.abstractThis paper focuses on the production control of a manufacturing system with time-delay, demand uncertainty and extra capacity. Time-delay is a typical feature of networked manufacturing systems (NMS), because an NMS is composed of many manufacturing systems with transportation channels among them and the transportation of materials needs time. Besides this, for a manufacturing system in an NMS, the uncertainty of the demand from its downstream manufacturing system is considered; and it is assumed that there exist two-levels of demand rates, i.e., the normal one and the higher one, and that the time between the switching of demand rates are exponentially distributed. To avoid the backlog of demands, it is also assumed that extra production capacity can be used when the work-in-process (WIP) cannot buffer the high-level demands rate. For such a manufacturing system with time-delay, demand uncertainty and extra capacity, the mathematical model for its production control problem is established, with the objective of minimizing the mean costs for WIP inventory and occupation of extra production capacity. To solve the problem, a two-level hedging point policy is proposed. By analyzing the probability distribution of system states, optimal values of the two hedging levels are obtained. Finally, numerical experiments are done to verify the effectiveness of the control policy and the optimality of the hedging levels. © 2005.en_HK
dc.languageengen_HK
dc.publisherElsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/ejoren_HK
dc.relation.ispartofEuropean Journal of Operational Researchen_HK
dc.subjectControlen_HK
dc.subjectHedging point policyen_HK
dc.subjectNetworked manufacturing systemsen_HK
dc.subjectProductionen_HK
dc.subjectTime-delayen_HK
dc.titleA two-level hedging point policy for controlling a manufacturing system with time-delay, demand uncertainty and extra capacityen_HK
dc.typeArticleen_HK
dc.identifier.openurlhttp://library.hku.hk:4550/resserv?sid=HKU:IR&issn=0377-2217&volume=176&issue=3&spage=1528&epage=1558&date=2007&atitle=A+two-level+hedging+point+policy+for+controlling+a+manufacturing+system+with+time-delay,+demand+uncertainty+and+extra+capacityen_HK
dc.identifier.emailChan, FTS: ftschan@hkucc.hku.hken_HK
dc.identifier.authorityChan, FTS=rp00090en_HK
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.doi10.1016/j.ejor.2005.10.032en_HK
dc.identifier.scopuseid_2-s2.0-33749999479en_HK
dc.identifier.hkuros136085en_HK
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-33749999479&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume176en_HK
dc.identifier.issue3en_HK
dc.identifier.spage1528en_HK
dc.identifier.epage1558en_HK
dc.identifier.isiWOS:000242102800015-
dc.publisher.placeNetherlandsen_HK
dc.identifier.scopusauthoridChan, FTS=7202586517en_HK
dc.identifier.scopusauthoridWang, Z=16507681800en_HK
dc.identifier.scopusauthoridZhang, J=36066837600en_HK

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