Determining the optimal production-maintenance policy with inspection errors: using a Markov chain.
Chih-Hsiung WangShey-Huei SheuPublished in: Comput. Oper. Res. (2003)
Keyphrases
- markov chain
- optimal production
- state dependent
- production process
- production system
- optimal policy
- steady state
- stationary distribution
- state space
- expected cost
- inventory management
- planning horizon
- monte carlo
- manufacturing systems
- finite state
- transition probabilities
- stochastic process
- production rate
- markov model
- random walk
- inventory level
- infinite horizon
- stochastic demand
- raw material
- monte carlo method
- transition matrix
- multistage
- long run
- decision problems
- fluid model
- supply chain
- inventory policy
- sufficient conditions
- cost function
- genetic algorithm
- finite horizon
- queueing networks
- production line
- model selection