We consider a continuous flow production process subject to failures with an intermediate buffer. Under the practical restriction to the class of (B, b) inventory control policies, we give a procedure for determining the optimal buffer size, B, and control parameter, b. We give conditions under which these parameters can be expressed in closed form and show that otherwise they can be computed as the solution of a two-dimensional nonlinear system.
Optimal inventory control in a production flow system with failures
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