| Article ID: | iaor20104475 |
| Volume: | 31 |
| Issue: | 3 |
| Start Page Number: | 201 |
| End Page Number: | 211 |
| Publication Date: | May 2010 |
| Journal: | Optimal Control Applications and Methods |
| Authors: | Cochran J K, Kokangul A, Khaniyev T |
| Keywords: | control, inventory |
Most production lines keep a minimal level of inventory stock to save storage costs and buffer space. However, the random nature of processing, breakdown, and repair times can significantly affect the efficiency of a production line and force the stocking of work‐in‐process inventory. We are interested in the case when starvation and blockage are preferentially avoided. In this study, a mathematical model has been developed using asymptotic approximation and simulation that provides asymptotic results for the expected value and the variance of the stock level in a buffer as a function of time. In addition, the functional relationship between buffer capacity and the first stopping time caused by starvation or blockage has been determined.