Inventory levels to stop and restart a single machine producing one product |
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Authors: | A.G. de Kok H.C. Tijms F.A. van der Duyn Schouten |
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Affiliation: | Vrije Universiteit, Department of Actuarial Sciences and Econometrics, De Boelelaan 1081, Amsterdam, Netherlands |
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Abstract: | A central problem in production planning is the coordination of the production rate with the inventory level in order to find a suitable compromise between the inventory on hand, the frequency of changes in the production rate and customer service. This paper deals with an one product production/inventory problem with an intermittently operating production facility controlled by inventory levels to shut down and restart production. The demand process is a compound Poisson process and a service level constraint is imposed on the fraction of demand to be met directly from stock on hand. The paper presents a tractable two-moments approximation for the control rule for starting up and shutting down the production. |
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Keywords: | Production inventory |
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