Optimum Buffer Capacity With Stochastic Queue

Probabilistic processing times, times between breakdowns and repair times make the amount of stock in buffers between stations in production lines behave as a stochastic process. Too much or too little buffer stock reduces system economy and efficiency, respectively. Optimum buffer capacities and initial stock levels for production lines employing a mathematical random walk approach based on the maximum and minimum values of a stochastic process in a time window can be obtained. Approximations can be provide for the purpose.

Autorentext

Prashant Makwana, (M.Sc., Ph.D. in Statistics), Working as Director at SLPT MBA Mahila College, Amreli, India. Research Guide in Statistics and Applied Mathematics and Computer Science.