Electronic Resource
Optimization of inventory and capacity in large-scale assembly systems using extreme-value theory
| العنوان: | Optimization of inventory and capacity in large-scale assembly systems using extreme-value theory |
|---|---|
| المؤلفون: | Meijer, M.S. (Mirjam), Schol, D. (Dennis), Jaarsveld, W. (Willem) van, Vlasiou, M. (Maria), Zwart, A.P. (Bert) |
| المصدر: | Stochastic Systems vol. 14 no. 2, pp. 131-166 |
| بيانات النشر: | 2024-06-01 |
| نوع الوثيقة: | Electronic Resource |
| مستخلص: | High-tech systems are typically produced in two stages: (1) production of components using specialized equipment and staff and (2) system assembly/integration. Component production capacity is subject to fluctuations, causing a high risk of shortages of at least one component, which results in costly delays. Companies hedge this risk by strategic investments in excess production capacity and in buffer inventories of components. To optimize these, it is crucial to characterize the relation between component shortage risk and capacity and inventory investments. We suppose that component production capacity and produce demand are normally distributed over finite time intervals, and we accordingly model the production system as a symmetric fork-join queueing network with N statistically identical queues with a common arrival process and independent service processes. Assuming a symmetric cost structure, we subsequently apply extreme value theory to gain analytic insights into this optimization problem. We derive several new results for this queueing network, notably that the scaled maximum of N steady-state queue lengths converges in distribution to a Gaussian random variable. These results translate into asymptotically optimal methods to dimension the system. Tests on a range of problems reveal that these methods typically work well for systems of moderate size. |
| مصطلحات الفهرس: | Extreme value theory, Asymptotic analysis, Capacitated inventory systems, info:eu-repo/semantics/article |
| DOI: | 10.1287.stsy.2022.0014 |
| URL: | |
| الاتاحة: | Open access content. Open access content |
| ملاحظة: | application/pdf English |
| Other Numbers: | NLCWI oai:cwi.nl:34319 doi:10.1287/stsy.2022.0014 1453275699 |
| المصدر المساهم: | CWI REPOSITORY. From OAIster®, provided by the OCLC Cooperative. |
| رقم الانضمام: | edsoai.on1453275699 |
| قاعدة البيانات: | OAIster |
| DOI: | 10.1287.stsy.2022.0014 |
|---|