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Revenue management in single-stage CONWIP production systems

Kouikoglou Vasilis, Stratos Ioannidis

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URIhttp://purl.tuc.gr/dl/dias/66DEB448-4A38-4546-A08E-2A1F06B11007-
Identifierhttps://doi.org/10.1080/00207540701455343-
Languageen-
Extent20 pagesen
TitleRevenue management in single-stage CONWIP production systemsen
CreatorKouikoglou Vasilisen
CreatorΚουϊκογλου Βασιληςel
CreatorStratos Ioannidisen
PublisherTaylor & Francisen
Content SummaryWe study a joint admission/inventory control problem for a manufacturing system producing one product to meet random demand. The system employs a constant work- in-process policy (CONWIP) whereby the total inventory of raw material and finished items is kept constant, and accepts orders only as long as the backlog is below a certain level. The objective is to determine the CONWIP and backlog levels that maximize the mean profit rate of the system. The system is modelled as a single server with a finite queue. It turns out that the mean profit rate is either concave or decreasing in one control parameter and also decreasing for large values of the other control parameter. A simple algorithm is developed which tracks down the globally optimum design in finite time. Numerical results show that the joint admission/inventory control policy achieves higher profit than other production control policies that have been examined in the literature.en
Type of ItemPeer-Reviewed Journal Publicationen
Type of ItemΔημοσίευση σε Περιοδικό με Κριτέςel
Licensehttp://creativecommons.org/licenses/by/4.0/en
Date of Item2015-11-07-
Date of Publication2008-
Subject Queueing systemsen
Bibliographic CitationS. Ioannidis, V.S. Kouikoglou ," Revenue management in single-stage CONWIP production systems ," Intern. J. of Production Research ,vol.46 ,no.22 ,pp. 6513-6532, 2008.doi:10.1080/00207540701455343en

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