Analysis of admission and inventory control policies for production networksAnalysis of admission and inventory control policies for production networks Peer-Reviewed Journal Publication Δημοσίευση σε Περιοδικό με Κριτές 2015-10-052008enProblems of inventory control and customer admission control are considered for a manufacturing system that produces one product to meet random demand. Four admission policies are investigated: lost sales, complete backordering, randomized admission, and partial backordering. These policies are combined with an integral inventory control policy, which releases raw items only when an incoming order is accepted and keeps the inventory position (total inventory minus outstanding orders) constant. The objective is to determine the inventory level and the maximum number of backorders, as well as the admission probability that maximize the mean profit rate of the system. The system is modeled as a closed queueing network and its performance is computed analytically. The optimal parameters for each policy are found using exhaustive search and convex analysis. Numerical results show that managing inventory levels and sales jointly through partial backordering achieves higher profit than other control policies. http://creativecommons.org/licenses/by/4.0/IEEE Transactions on Automation Science and Engineering25275 - 288 Yannis Phillis Φιλλης Ιωαννης Vassilis S. Kouikoglou S. Ioannidis IEEE Coordinate generation, Numerical (Numerical analysis) Generation of numerical grids (Numerical analysis) Grid generation, Numerical (Numerical analysis) Mesh generation, Numerical (Numerical analysis) Numerical coordinate generation (Numerical analysis) Numerical mesh generation (Numerical analysis) numerical grid generation numerical analysis coordinate generation numerical numerical analysis generation of numerical grids numerical analysis grid generation numerical numerical analysis mesh generation numerical numerical analysis numerical coordinate generation numerical analysis numerical mesh generation numerical analysis