The normal curve has been used to fit the rate of both world and US oil production. In this article we give the first theoretical basis for these curve fittings. It is well known that oil field sizes can be modeled by independent samples from a lognormal distribution. We show that when field sizes are lognormally distributed, the starting time of the production of a field is approximately a lin...

The dynamic lotsizing problem concerns the determination of optimally produced/delivered batch quantities, when demand, which is to be satisfied, is distributed over time in different amounts at different times. The standard formulation assumes that these batches are provided instantaneously, i.e. that the production rate is infinite. Using a cumulative geometrical representation for demand and...

A new method is presented for the reconstruction of the radiocarbon production rate from the measured relative abundance of ∆14C. The method treats the carbon cycle as a linear Fourier filter and thus allows for the correct and unambiguous inversion of the carbon cycle. The 14C production rate, as reconstructed by the Fourier filter method, agrees with the results obtained by the traditional it...

Motivated by a production planning problem in an actual global manufacturing network, we examine the impact of exchange-rate uncertainty ... namely the volatility in an& correlations among exchange rates ... on the choice of various optimal production policies and the conditions which lead to them. A two-stage stochastic program with recourse is developed that provides opportunities to hedge fi...

Given that a multinational enterprise can react flexibly upon exchange rate movements, international trade flows may be interpreted as an option. An enterprise will opt to export if the profits obtained from exporting under given exchange rate developments are greater than if foreign subsidiary sales were opted. Naturally, given negative exchange rate scenario situations, an enterprise will cho...

Determining production rate considering costs and revenues in order to maximize profit is one of the applied problems in small and medium size factories. Mostly existing models in production planning consider production system statically and specify production rate, although the factors determining production rate include many different changes in practice. In fact, by increasing the production...