No abstract

We consider the extended economic production quantity (EPQ) problem when demand follows a Poisson process in a production system. A fixed lot sizing policy is implemented to minimize fluctuation of workload, and to smooth production planning and inventory control. The considered costs include setup cost, inventory carrying cost, and shortage cost when demand cannot be satisfied from stock. The main contributions of this paper are two folds. We develop and analyze the extended EPQ model. Under some mild conditions, the expected cost per unit time can be shown to be convex. Via computational experiments, we demonstrate that, in comparison with classical EPQ model, the average reduction of expected cost is significant when demand is random and the proposed model is used to determine lot sizing policy. Our computational tests have also illustrated the impact of various parameters on the expected cost model and the lot sizing policy.

The management of urban growth patterns in the United States in order to maximize the benefits of public and private investments in urban areas is examined. The authors present "the results of a modelling design effort to link a hybrid regional input-output model to demographic, labor force and energy models for use in planning in the San Francisco Bay Region. Extensive use of system feedback is a major component of this research effort. Summary results of the model outputs are presented...."