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Hedging Point Policy Improvement

Author

Listed:
  • E. K. Boukas

    (Eacute;cole Polytechnique de Montréal and GERAD)

Abstract

This paper deals with the production and the corrective maintenance planning control problem for failure-prone manufacturing systems. The introduction of corrective maintenance increases the availability of the manufacturing system, which guarantees the improvement of the system productivity if the production planning is well done. For the one-machine/one-part system, we show that our planning control problem is more efficient than the one given by Akella and Kumar. We also show that the hedging level is lower than the one obtained by Akella and Kumar.

Suggested Citation

  • E. K. Boukas, 1998. "Hedging Point Policy Improvement," Journal of Optimization Theory and Applications, Springer, vol. 97(1), pages 47-70, April.
    • Handle: RePEc:spr:joptap:v:97:y:1998:i:1:d:10.1023_a:1022670932536
    DOI: 10.1023/A:1022670932536
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    Citations

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    Cited by:

    1. Vladimir Polotski & Jean-Pierre Kenne & Ali Gharbi, 2019. "Optimal production and corrective maintenance in a failure-prone manufacturing system under variable demand," Flexible Services and Manufacturing Journal, Springer, vol. 31(4), pages 894-925, December.
    2. Dehayem Nodem, F.I. & Kenne, J.P. & Gharbi, A., 2009. "Hierarchical decision making in production and repair/replacement planning with imperfect repairs under uncertainties," European Journal of Operational Research, Elsevier, vol. 198(1), pages 173-189, October.
    3. Song, Dong-Ping, 2009. "Production and preventive maintenance control in a stochastic manufacturing system," International Journal of Production Economics, Elsevier, vol. 119(1), pages 101-111, May.
    4. Behnamfar, Reza & Sajadi, Seyed Mojtaba & Tootoonchy, Mahshid, 2022. "Developing environmental hedging point policy with variable demand: A machine learning approach," International Journal of Production Economics, Elsevier, vol. 254(C).
    5. Charlot, E. & Kenne, J.P. & Nadeau, S., 2007. "Optimal production, maintenance and lockout/tagout control policies in manufacturing systems," International Journal of Production Economics, Elsevier, vol. 107(2), pages 435-450, June.

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