CONTINUOUS PRODUCTION AND EMERGENT DEMAND
RAND CORP SANTA MONICA CA
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A model of the real and monetary costs involved in supplying spare parts from current production is presented. The model leads to a cost function for each part individually depending on its production characteristics and its demand probability function, and on certain policy variables. By choosing appropriate values for the policy variables, the cost function for each part can be minimized independently of the others.
- Manufacturing and Industrial Engineering and Control of Production Systems