Integrated Production Planning and Risk Hedging

An integrated production-marketing planning model With Cubic production cost function and imperfect production process

The basic assumption in the traditional inventory model is that all outputs are perfect items. However, this assumption is too simplistic in the most real-life situations due to a natural phenomenon in a production process. From this it is deduced that the system produces non-perfects items which can be classified into four groups of perfect, imperfect, reworkable defective and non-reworkable d...

Integrated Production-Distribution Planning

Hydropower production planning and hedging under inflow and forward uncertainty

We consider longand medium-term production planning and hedging in a hydropower system under price and inflow uncertainty. The price uncertainty is modeled with a multidimensional forward curve model that considers time dependant spot volatility, the volatility curve’s maturity effect, and the forward curve’s correlation structure. We give a simple and intuitive parameterization for the optimal...

An Integrated Aggregate Production Planning Model with Two-Phase Production System and Maintenance Costs

Aggregate production planning (APP) is one of the most important issues carried out in manufacturing environments which seeks efficient planning, scheduling and coordination of all production activities that optimizes the company's objectives. In this paper, we develop a mixed integer linear programming (MILP) model for an integrated aggregate production planning system with closed loop supply ...

Integrated planning for blood platelet production: a robust optimization approach

Perishability of blood products as well as uncertainty in demand amounts complicate the management of blood supply for blood centers. This paper addresses a mixed-integer linear programming model for blood platelets production planning while integrating the processes of blood collection as well as production/testing, inventory control and distribution. Whole blood-derived production methods for...