Interactive effects of seasonal-demand characteristics on manufacturing systems. Issue 10 (18th May 2016)

• Record Type: Journal Article
• Authors: Bhat, Sanket; Krishnamurthy, Ananth
• Is Part Of: International journal of production research. Volume 54:Issue 10(2016)
• Page Start: 2951
• Page End: 2964
• Publication Date: 2016-05-18
• Subjects: seasonal demands -- flexible production capacity -- dynamic programming; Factory management -- Periodicals; 658.57
• DOI: 10.1080/00207543.2016.1138150
• Languages: English
• ISSNs: 0020-7543

Abstract

Abstract : In this paper, we identify different characteristics of seasonal demands and analyse their impact on manufacturing systems. In particular, we consider a single-stage production facility that has flexibility to adjust its production rates or inventory target levels. Using Markov decision process formulation, we analyse a model that minimises the total cost under infinite horizon discounted and average cost criteria. Through extensive numerical studies, we reveal several insights related to the individual and joint impact of seasonal demand characteristics that are of practical interests to manufacturers.