Discrete Renewal Theory Revisited (With Microcomputer Programs),
NEW YORK UNIV BRONX DEPT OF INDUSTRIAL ENGINEERING AND OPERATIONS RESEARCH
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Consider the following Readiness problem. In a manufacturing operation using machine tools, cutters such as drilling and cutting bits are constantly subject to wearout and breakage and have to be re-sharpened or replaced from time to time. The duration for which a particular tool will last even for a given material, speed, feed, etc. can not be predicted in any deterministic way. It is a random variable having a statistical distribution when the operation is under the state of statistical control. Here lies an important logistic question on readiness. For the manufacturer, how many tools on the average with what variance from the average should be kept in stock in order to maintain a smooth-running manufacturing operation.
- Operations Research
- Manufacturing and Industrial Engineering and Control of Production Systems