Please use this identifier to cite or link to this item: http://scholarbank.nus.edu.sg/handle/10635/72296
Title: Benchmarking of a stochastic production planning model in a simulation testbed
Authors: Riaño, G.
Serfozo, R.
Hackman, S.
Ng, S.H. 
Chan, L.P.
Lendermann, P.
Issue Date: 2003
Source: Riaño, G.,Serfozo, R.,Hackman, S.,Ng, S.H.,Chan, L.P.,Lendermann, P. (2003). Benchmarking of a stochastic production planning model in a simulation testbed. Winter Simulation Conference Proceedings 2 : 1183-1191. ScholarBank@NUS Repository.
Abstract: A major problem in production planning is to determine when to release products into production to meet forecasted requirements. Recently, Riaño et al. (2002) proposed the Stochastic Production Planning (SPP) model for a multi-period, multi-product system, where the lead time to produce a product may be random. The model determines release times for the products that ensure the requirements in each time period are met with desired probabilities at a minimum cost. This paper describes how an advanced planning model like SPP can be integrated with discrete event simulation models to make the simulations more realistic and informative. This paper also compares the performance of the SPP model with the classical MRP (materials requirements planning) model, and with a stochastic variation of the MRP model in a simulation study. The costs associated with the production plans from SPP are about 10% less than the costs from the other two models.
Source Title: Winter Simulation Conference Proceedings
URI: http://scholarbank.nus.edu.sg/handle/10635/72296
ISSN: 02750708
Appears in Collections:Staff Publications

Show full item record
Files in This Item:
There are no files associated with this item.

Page view(s)

26
checked on Dec 9, 2017

Google ScholarTM

Check


Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.