Search results for "Buffer stock"
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A simulated annealing-based approach for the joint optimization of production/inventory and preventive maintenance policies
2017
Even if more reliable than the past, the performance of modern manufacturing systems is still affected by machine’s deteriorations and breakdowns. As a consequence, adequate maintenance programs must be implemented to adequately satisfy demands during manufacturing stops due to unexpected failures or preventive maintenance (PM) actions. Despite production and maintenance are closely related issues, their joint optimization has become an important research topic just during the last decade. Therefore, the present paper proposes a model for the combined optimization of production/inventory control and PM policies with the aim of minimizing the total expected cost per unit time. The model is f…