Stock-rationing policy for a make-to-stock production system with two priority classes and backordering

Stock-rationing policy for a make-to-stock production system with two priority classes and backordering

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Article ID: iaor1998573
Country: United States
Volume: 44
Issue: 5
Start Page Number: 457
End Page Number: 472
Publication Date: Aug 1997
Journal: Naval Research Logistics
Authors:
Keywords: make-to-stock
Abstract:

This article considers the problem of production control and stock rationing in a make-to-stock production system with two priority customer classes and backordering. The problem is formulated as a queueing control model. With Poisson arrivals and exponential production times, we show that the optimal production control and stock-rationing policies can be characterized by a single, monotone switching curve.

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