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A hybrid manufacturing system with demand for intermediate goods and controllable make-to-stock production rate

Title
A hybrid manufacturing system with demand for intermediate goods and controllable make-to-stock production rate
Authors
Kim H.Kim E.
Ewha Authors
김은갑
SCOPUS Author ID
김은갑scopus
Issue Date
2022
Journal Title
European Journal of Operational Research
ISSN
0377-2217JCR Link
Citation
European Journal of Operational Research vol. 303, no. 3, pp. 1244 - 1257
Keywords
Compound Poisson demand processControllable production rateDemand rationingHybrid manufacturingInventory
Publisher
Elsevier B.V.
Indexed
SCIE; SCOPUS WOS scopus
Document Type
Article
Abstract
This paper presents a two-stage hybrid manufacturing system in which the first stage produces semifinished products to store as intermediate inventory in a make-to-stock mode, whereas the second stage produces customized products from semifinished goods in a make-to-order mode. The system faces external demand for semifinished goods with a compound Poisson process and has the option of controlling the make-to-stock production rate. We study the problem of coordinating the controls of order admission, make-to-stock production rate, and inventory rationing for SP demand. The problem is formulated as a Markov decision process model. We identify the structural properties of optimal policies to maximize the long-run average profit. Using a numerical experiment, we examine how the flexibility in make-to-stock production rate and the inventory rationing for semifinished product demand can affect the system performance. We also propose a heuristic and evaluate its effectiveness using example problems. © 2022 Elsevier B.V.
DOI
10.1016/j.ejor.2022.03.039
Appears in Collections:
경영대학 > 경영학전공 > Journal papers
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