The reorder point/reorder quantity policies, also referred to as (r, Q) policies, are widely used in industry and extensively studied in the literature. However, for a period of almost 30 years there has been no efficient algorithm for computing optimal control parameters for such policies. In this paper, we present a surprisingly simple and efficient algorithm for the determination of an optim...

A hierarchical approach to planning production in complex manufacturing systems is presented. A single facilitg containing a number of work-centers that prvduce multiple part types is considered. The planning horizon includes a sequence of time periods, and the demand for all part types is assumed to be known. The production planning problem consists of minimizing the holding costs for the work...

In this paper we introduce a new class of cooperative games that arise from production-inventory problems. Several agents have to cover their demand over a finite time horizon and shortages are allowed. Each agent has its own unit production, inventory-holding and backlogging cost. Cooperation among agents is given by sharing production processes and warehouse facilities: agents in a coalition ...