Abstract:Abstract:In this paper, a manufacturing supply chain system composed by a single-product machine, a buffer and a stochastic demand is considered. A stochastic fluid model is adopted to describe the system and to take into account stochastic delivery times. The objective of this paper is to evaluate the optimal buffer level used in hedging point policy taken into account planned delivery times, machine failures and random demands. This optimal buffer allows minimizing the sum of inventory, transportation, lost … Show more
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