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On Optimality of Stochastic N-Machine Flowshop with Long-Run Average CostErnst PresmanRussian Academy of Sciences (RAS) Suresh SethiUniversity of Texas at Dallas - Naveen Jindal School of Management Hanqin ZhangChinese Academy of Sciences (CAS) - Academy of Mathematics and Systems Sciences Qing ZhangUniversity of Georgia - Department of Mathematics STOCHASTIC THEORY AND CONTROL: LECTURE NOTES IN CONTROL AND INFORMATION SCIENCES, B. Pasik-Duncan, ed., Vol. 280, pp. 399-417, Springer-Verlag, Berlin, 2002 Abstract: This paper is concerned with the problem of production planning in a stochastic manufacturing system with serial machines that are subject to breakdown and repair. The machine capacities are modeled by a Markov chain. The objective is to choose the input rates at the various machines over time in order to meet the demand for the system's production at the minimum long-run average cost of production and surplus, while ensuring that the inventories in internal buffers between adjacent machines remain nonnegative. The problem is formulated as a stochastic dynamic program. We prove a verification theorem and derive the optimal feedback control policy in terms of the directional derivatives of the potential function.
Number of Pages in PDF File: 17 Keywords: Production Planning, Optimal Controls, Stochastic Manufacturing System, Long-Run Average Cost, Dynamic Programming, Ergodic Problem, Feedback Controls, flowshop JEL Classification: M11, C61 Accepted Paper SeriesDate posted: May 29, 2008Suggested CitationContact Information
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