scholarly journals The Optimal Inventory Policy for Reusable Items with Random Planning Horizon Considering Present Value

2014 ◽  
Vol 05 (02) ◽  
pp. 292-299 ◽  
Author(s):  
Shou-Mei Su ◽  
Shy-Der Lin ◽  
Li-Fen Chang
Keyword(s):  
Planning Horizon ◽  
Present Value ◽  
Inventory Policy ◽  
Random Planning Horizon

An Imperfect Production Model for Breakable Multi-Item with Dynamic Demand and Learning Effect on Rework over Random Planning Horizon

2021 ◽  
Vol 14 (12) ◽  
pp. 574
Author(s):  
Amalesh Kumar Manna ◽  
Leopoldo Eduardo Cárdenas-Barrón ◽  
Barun Das ◽  
Ali Akbar Shaikh ◽  
Armando Céspedes-Mota ◽  
...  
Keyword(s):  
Learning Effect ◽  
Planning Horizon ◽  
Inventory Model ◽  
Inventory System ◽  
Production Model ◽  
Inventory Models ◽  
Imperfect Production ◽  
Production Inventory ◽  
Random Planning Horizon ◽  
Production Inventory System

In recent times, in the literature of inventory management there exists a notorious interest in production-inventory models focused on imperfect production processes with a deterministic time horizon. Nevertheless, it is well-known that there is a high influence and impact caused by the learning effect on the production-inventory models in the random planning horizon. This research work formulates a mathematical model for a re-workable multi-item production-inventory system, in which the demand of the items depends on the accessible stock and selling revenue. The production-inventory model allows shortages and these are partial backlogged over a random planning horizon. Also, the learning effect on the rework policy, inflation, and the time value of money are considered. The main aim is to determine the optimum production rates that minimize the expected total cost of the multi-item production-inventory system. A numerical example is solved and a detailed sensitivity analysis is conducted in order to study the production-inventory model.

scholarly journals VIABILIDADE ECONÔMICA DA PRODUÇÃO DE CARVÃO VEGETAL EM DOIS SISTEMAS PRODUTIVOS

FLORESTA ◽  
2014 ◽  
Vol 44 (1) ◽  
pp. 143 ◽  
Author(s):  
Aylson Costa Oliveira ◽  
Thiago Taglialegna Salles ◽  
Bárbara Luísa Corradi Pereira ◽  
Angélica De Cássia Oliveira Carneiro ◽  
Camila Soares Braga ◽  
...  
Keyword(s):  
Economic Analysis ◽  
Net Present Value ◽  
Production Systems ◽  
Planning Horizon ◽  
Economic Viability ◽  
Present Value ◽  
Charcoal Production ◽  
Average Annual Production ◽  
The Cost ◽  
Benefit Cost

O objetivo deste trabalho foi analisar a viabilidade econômica da produção de carvão vegetal em dois sistemas produtivos: oito fornos de superfície acoplados a uma fornalha para queima de gases e dez fornos do tipo “rabo-quente” sem sistema de queima de gases. Para análise econômica, definiu-se uma produção anual média igual a 1.571 metros cúbicos de carvão (mdc) e horizonte de planejamento de 12 anos, sendo propostos 2 cenários. No primeiro cenário, após a colheita da madeira, realiza-se o plantio de uma nova floresta, permanecendo o custo da madeira constante em todo o planejamento; no segundo cenário, após a colheita, considerou-se a condução da brotação, reduzindo os custos na 2ª rotação e consequentemente os custos da madeira. A análise econômica foi realizada através da determinação dos seguintes indicadores: Valor Presente Líquido (VPL), Valor Anual Equivalente (VAE), Razão Benefício/Custo (B/C) e Lucratividade. Os indicadores calculados demonstraram a viabilidade dos dois sistemas produtivos avaliados em ambos os cenários propostos, porém o sistema fornos-fornalha apresentou melhores valores para os indicadores. Conclui-se que a produção de carvão vegetal nos sistemas avaliados foram viáveis economicamente, com o sistema fornos-fornalha gerando maior lucro ao produtor de carvão.Palavras-chave: Fornos de alvenaria; análise determinística; valor presente líquido. Abstract Economic viability of charcoal production in two production systems. The objective of this study was to analyze the economic viability of charcoal production in two conversion technologies: eight surface kilns coupled to a furnace for burning gases (kilns-furnace system) and ten "rabo-quente" or traditional charcoal kilns without burning gases system. An average annual production of 1571 cubic meters of charcoal (mdc) was used to perform the economic analysis. A planning horizon of 12 years and two scenarios were proposed. In the first scenario, after harvesting the wood, the planting of a new forest was performed, and the cost of wood remained constant throughout the planning horizon. In the second scenario, after the harvest, the conduction of shooting was considered, which reduced costs in the second rotation and consequently the cost of wood. The economic analysis was performed by determining the following indicators: Net Present Value (NPV), Equivalent Annual Value (EAV) and Benefit - Cost Reason (B/C). Calculated indicators demonstrated the viability of producing charcoal in the two production systems in both scenarios proposed, but kilns-furnace system presented better values. As conclusion, production of charcoal in the evaluated systems were economically viable. Kilns-furnace system was able to generate more profit to charcoal producer.Keywords: Kilns; deterministic analysis; net present value.

Two-player zero-sum stochastic differential games with random horizon

2019 ◽  
Vol 51 (4) ◽  
pp. 1209-1235
Author(s):  
M. Ferreira ◽  
D. Pinheiro ◽  
S. Pinheiro
Keyword(s):  
Viscosity Solution ◽  
Nonlinear Partial Differential Equation ◽  
Random Variable ◽  
Planning Horizon ◽  
Continuous Random Variable ◽  
State Variable ◽  
Random Horizon ◽  
Hamilton Jacobi Bellman ◽  
Zero Sum ◽  
Random Planning Horizon

AbstractWe consider a two-player zero-sum stochastic differential game with a random planning horizon and diffusive state variable dynamics. The random planning horizon is a function of a non-negative continuous random variable, which is assumed to be independent of the Brownian motion driving the state variable dynamics. We study this game using a combination of dynamic programming and viscosity solution techniques. Under some mild assumptions, we prove that the value of the game exists and is the unique viscosity solution of a certain nonlinear partial differential equation of Hamilton–Jacobi–Bellman–Isaacs type.

scholarly journals Optimal Inventory Policy of Production Management: A Present Value Framework

Engineering ◽  
2013 ◽  
Vol 05 (06) ◽  
pp. 556-560
Author(s):  
Li-Fen Chang ◽  
Shou-Mei Su ◽  
Shy-Der Lin
Keyword(s):  
Production Management ◽  
Present Value ◽  
Inventory Policy

scholarly journals Profit-Maximizing Dairy Sire Selection Package

1988 ◽  
Vol 20 (1) ◽  
pp. 141-144 ◽  
Author(s):  
Robert W. Blake ◽  
C. Richard Shumway ◽  
Michael A. Tomaszewski ◽  
Greg P. Rickard ◽  
John M. LaBore
Keyword(s):  
Net Present Value ◽  
Planning Horizon ◽  
Economic Factors ◽  
Objective Functions ◽  
Present Value ◽  
Herd Management ◽  
C Language ◽  
Performance Factors ◽  
Microcomputer Program ◽  
Dairy Sire

AbstractThe Net Present Value Sire Summary Professional Package (NPVSS) is a microcomputer program designed for technical personnel to help dairy producers better manage investments in genetic improvement. NPVSS is written in C language, utilizes the MS-DOS operating system, and requires 256K of RAM. It is menu driven and includes parameter screens to define herd management characteristics of individual producers. Profit rankings of bulls can be generated to evaluate alternative: a) objective functions (selection policies for genetic merit in milk income and type scores), b) herd management performance factors (conception rate, calving interval, age at first calving), and c) economic factors (milk price, semen price, discount rate, planning horizon).

Seed Orchard Replacement Guidelines: A Linear Programming Approach

1991 ◽  
Vol 15 (3) ◽  
pp. 117-125
Author(s):  
Jay O'Laughlin ◽  
Christopher M. Whatley ◽  
Craig R. McKinley
Keyword(s):  
Linear Programming ◽  
Net Present Value ◽  
Programming Model ◽  
Seed Orchard ◽  
Planning Horizon ◽  
Linear Programming Model ◽  
Programming Approach ◽  
Specific Production ◽  
Present Value ◽  
Linear Programming Approach

Abstract A linear programming model is used to determine when to replace a seed orchard with subsequent rotations reflecting additional genetic improvements. The objective is to maximize the net present value of the orchard while meeting specific production targets of exactly 1,000 pounds of seed per year. The solution calls for a 39 ac orchard over the 50-year planning horizon, and provides a schedule indicating both when and how much of the orchard is to be replaced. Slightly more than half (55%) of the first orchard rotation is replaced between years 13 and 21—roughly 13% in year 13, 14% in year 15, 16% in year 17, 4% in year 19, and 8% in year 21. The remaining 45% of the orchard is replaced at the maximum orchard age of 25. To meet production needs in years 25 through 34 without using additional orchard acreage, 2,550 pounds of surplus seed are produced between years 13 and 24. South. J. Appl. For. 15(3):117-125.

Multi-item EPQ model with learning effect on imperfect production over fuzzy-random planning horizon

2016 ◽  
Vol 4 (1) ◽  
pp. 80-110 ◽  
Author(s):  
Amalesh Kumar Manna ◽  
Barun Das ◽  
Jayanta Kumar Dey ◽  
Shyamal Kumar Mondal
Keyword(s):  
Learning Effect ◽  
Planning Horizon ◽  
Imperfect Production ◽  
Epq Model ◽  
Random Planning Horizon ◽  
Fuzzy Random
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