Multistage Production for Stochastic Seasonal Demand
Multistage Production for Stochastic Seasonal Demand
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In our eReader you can find the full English version of the book. Read Multistage Production for Stochastic Seasonal Demand Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Multistage Production for Stochastic Seasonal Demand
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This relationship can be applied to find an upper bound on expected profit for the multistage, multiperiod problem. We will apply the newsboy bound to each stage, n, of the multistage problem, considering only those costs prior to and including the production of stage n, and using as a measure of uncertainty in demand that uncertainty remaining in the last period at which stage n can begin production, T-Z^.
We now compute the upper bound, B, as (23) ^n = (Pr - ^N^^ where i2^) ^n = (OC^ , T-Zj (...C + I C - V ) f(q 7 ) ^ jea(n) J J "'^-^n and G(n) is the set of all stages (in} such that Z - Z . Then B* = mln {B } is an overall bound on expected profit, but a bound which does not include losses that may arise from underage or overage in later production stages, nor does it in- clude potential losses from demand prior to the production of ^See [li|], p. 302, 22.
the final batch for the bounding stage.
The bound was applied to the sample problem reported in Table 3 for which H4 gave expected profits of $68, 862, $66, 167, and $66, 579.
What to read after Multistage Production for Stochastic Seasonal Demand?
You can find similar books in the "Read Also" column, or choose other free books by Wallace B S Crowston to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
This relationship can be applied to find an upper bound on expected profit for the multistage, multiperiod problem. We will apply the newsboy bound to each stage, n, of the multistage problem, considering only those costs prior to and including the production of stage n, and using as a measure of uncertainty in demand that uncertainty remaining in the last period at which stage n can begin production, T-Z^.
We now compute the upper bound, B, as (23) ^n = (Pr - ^N^^ where i2^) ^n = (OC^ , T-Zj (...C + I C - V ) f(q 7 ) ^ jea(n) J J "'^-^n and G(n) is the set of all stages (in} such that Z - Z . Then B* = mln {B } is an overall bound on expected profit, but a bound which does not include losses that may arise from underage or overage in later production stages, nor does it in- clude potential losses from demand prior to the production of ^See [li|], p. 302, 22.
the final batch for the bounding stage.
The bound was applied to the sample problem reported in Table 3 for which H4 gave expected profits of $68, 862, $66, 167, and $66, 579.
What to read after Multistage Production for Stochastic Seasonal Demand?
You can find similar books in the "Read Also" column, or choose other free books by Wallace B S Crowston to read onlineMoreLess
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