Infinite horizon production planning in time-varying systems with convex production and inventory costs

Article Abstract:

The production lot sizing problem models production control over a multiperiod planning horizon and is popular single-item deterministic inventory planning paradigm. It seeks to create a production schedule over the planning horizon that can cost-effectively satisfy demand. The infinite horizon version of this problem is considered under diseconomies of scale in production and inventory holding costs. This type of production lot sizing problem is often experienced in industry where production schedules are based on forecasts of future demand. It is demonstrated that there exist finite versions of the problem that result in a optimal production level at any decision period under very general conditions.

Production Management, Methods, Analysis, Planning, Manufacturing processes, Manufacturing, Inventory control, Economic lot size, Convex functions

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Deterministic capacity expansion under deterioration

Article Abstract:

The problem of deterministic capacity expansion with deterioration is analyzed using an extended conventional model that considers both capacity deterioration effects and operating expenses brought about by the facility's age and the extent of utilization of capacity. Additional insights into the problem are gained by extending well-known horizon results to the deterministic capacity expansion model through a novel dual-based technique. Optimal and near-optimal forecast horizon values are also compared. The computational results of the comparison are presented.

Industrial capacity, Plant maintenance, Factory maintenance

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Optimal capacity expansion over an infinite horizon

Article Abstract:

An algorithm is developed that is capable of simultaneously establishing an optimal solution to the determination of an initial facility with finite capacity expansion capability and providing an optimal solution with a consecutive lengthening of the time horizon, ultimately to infinity. In addition, the model can produce a solution in which discounted cost can be recovered within a predetermined maximum error of the infinite horizon cost.

Models, Capital investments, Business planning

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