Module 9:Application of stochastic processes in areas like manufacturing
  Lecture 34:Profit Maximization in Manufacturing Process

The Lecture Contains:

Profit maximization considering partial backlogging

Example for backorder cases

Backorders case with Poisson demands and constant procurement lead time

The lost sales case for constant lead times A study of effect of information sharing and
lead-times on bullwhip effect in a serial supply chain

  • Demand Process
  • Forecasting Model
  • Replenishment Policy