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Further properties of optimal hedging points in a class of manufacturing systems

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2 Author(s)
Xin-Zhen Yu ; Inst. of Autom. Res., Southeast Univ., Nanjing, China ; Wen-zhong Song

For single-part-type manufacturing systems with homogeneous irreducible Markov machine failure rates, it is known that simple feedback control policies, called hedging point policies, are optimal, and the stationary probability distribution of the part surplus can be obtained analytically for given tentative values of hedging points. In this paper, the authors extend previous work on the ordering of optimal hedging points, and some better results are obtained

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Automatic Control, IEEE Transactions on  (Volume:44 ,  Issue: 2 )