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Average-Cost Control of Stochastic Manufacturing Systems

Average-Cost Control of Stochastic Manufacturing Systems

Suresh P. Sethi; Han-Qin Zhang; Qing Zhang

Springer-Verlag New York Inc.
2005
sidottu
Most manufacturing systems are large, complex, and operate in an environment of uncertainty. It is common practice to manage such systems in a hierarchical fashion. This book articulates a new theory that shows that hierarchical decision making can in fact lead to a near optimization of system goals. The material in the book cuts across disciplines. It will appeal to graduate students and researchers in applied mathematics, operations management, operations research, and system and control theory.
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Optimal Consumption and Investment with Bankruptcy

Optimal Consumption and Investment with Bankruptcy

Suresh P. Sethi

Springer
1996
sidottu
This book presents papers on continuous-time consumption­ investment models by Suresh Sethi and various co-authors. Sir Isaac Newton said that he saw so far because he stood on the shoulders of gi­ ants. Giants upon whose shoulders Professor Sethi and colleagues stand are Robert Merton, particularly Merton's (1969, 1971, 1973) seminal papers, and Paul Samuelson, particularly Samuelson (1969). Karatzas, Lehoczky, Sethi and Shreve (1986), henceforth KLSS, re­ produced here as Chapter 2, reexamine the model proposed by Mer­ ton. KLSS use methods of modern mathematical analysis, taking care to prove the existence of integrals, check the existence and (where appro­ priate) the uniqueness of solutions to equations, etc. KLSS find that un­ der some conditions Merton's solution is correct; under others, it is not. In particular, Merton's solution for aHARA utility-of-consumption is correct for some parameter values and not for others. The problem with Merton's solution is that it sometimes violates the constraints against negative wealth and negative consumption stated in Merton (1969) and presumably applicable in Merton (1971 and 1973). This not only affects the solution at the zero-wealth, zero-consumption boundaries, but else­ where as well. Problems with Merton's solution are analyzed in Sethi and Taksar (1992), reproduced here as Chapter 3.
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Hierarchical Decision Making in Stochastic Manufacturing Systems

Hierarchical Decision Making in Stochastic Manufacturing Systems

Suresh P. Sethi; Qing Zhang

Birkhauser Boston Inc
1994
sidottu
One of the most important methods in dealing with the optimization of large, complex systems is that of hierarchical decomposition. The idea is to reduce the overall complex problem into manageable approximate problems or subproblems, to solve these problems, and to construct a solution of the original problem from the solutions of these simpler prob­ lems. Development of such approaches for large complex systems has been identified as a particularly fruitful area by the Committee on the Next Decade in Operations Research (1988) [42] as well as by the Panel on Future Directions in Control Theory (1988) [65]. Most manufacturing firms are complex systems characterized by sev­ eral decision subsystems, such as finance, personnel, marketing, and op­ erations. They may have several plants and warehouses and a wide variety of machines and equipment devoted to producing a large number of different products. Moreover, they are subject to deterministic as well as stochastic discrete events, such as purchasing new equipment, hiring and layoff of personnel, and machine setups, failures, and repairs.
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Inventory and Supply Chain Management with Forecast Updates

Inventory and Supply Chain Management with Forecast Updates

Suresh P. Sethi; Houmin Yan; Hanqin Zhang

Springer-Verlag New York Inc.
2005
sidottu
Inventory and Supply Chain Management with Forecast Updates is concerned with the problems of inventory and supply chain decision making with information updating over time. The models considered include inventory decisions with multiple sources and delivery modes, supply-contract design and evaluation, contracts with exercise price, volume-flexible contracts allowing for spot-market purchase decisions, and competitive supply chains. Real problems are formulated into tractable mathematical models, which allow for an analysis of various approaches, and provide insights for better supply chain management. The book provides a unified treatment of these models, presents a critique of the existing results, and points out potential research directions. Attention is focused on solutions – that is, inventory decisions prior and subsequent to information updates and the impact of the quality of information on these decisions.
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Average-Cost Control of Stochastic Manufacturing Systems

Average-Cost Control of Stochastic Manufacturing Systems

Suresh P. Sethi; Han-Qin Zhang; Qing Zhang

Springer-Verlag New York Inc.
2010
nidottu
Most manufacturing systems are large, complex, and operate in an environment of uncertainty. It is common practice to manage such systems in a hierarchical fashion. This book articulates a new theory that shows that hierarchical decision making can in fact lead to a near optimization of system goals. The material in the book cuts across disciplines. It will appeal to graduate students and researchers in applied mathematics, operations management, operations research, and system and control theory.
Vertaile hintoja
Inventory and Supply Chain Management with Forecast Updates

Inventory and Supply Chain Management with Forecast Updates

Suresh P. Sethi; Houmin Yan; Hanqin Zhang

Springer-Verlag New York Inc.
2010
nidottu
Inventory and Supply Chain Management with Forecast Updates is concerned with the problems of inventory and supply chain decision making with information updating over time. The models considered include inventory decisions with multiple sources and delivery modes, supply-contract design and evaluation, contracts with exercise price, volume-flexible contracts allowing for spot-market purchase decisions, and competitive supply chains. Real problems are formulated into tractable mathematical models, which allow for an analysis of various approaches, and provide insights for better supply chain management. The book provides a unified treatment of these models, presents a critique of the existing results, and points out potential research directions. Attention is focused on solutions – that is, inventory decisions prior and subsequent to information updates and the impact of the quality of information on these decisions.
Vertaile hintoja
Hierarchical Decision Making in Stochastic Manufacturing Systems

Hierarchical Decision Making in Stochastic Manufacturing Systems

Suresh P. Sethi; Qing Zhang

Springer-Verlag New York Inc.
2012
nidottu
One of the most important methods in dealing with the optimization of large, complex systems is that of hierarchical decomposition. The idea is to reduce the overall complex problem into manageable approximate problems or subproblems, to solve these problems, and to construct a solution of the original problem from the solutions of these simpler prob­ lems. Development of such approaches for large complex systems has been identified as a particularly fruitful area by the Committee on the Next Decade in Operations Research (1988) [42] as well as by the Panel on Future Directions in Control Theory (1988) [65]. Most manufacturing firms are complex systems characterized by sev­ eral decision subsystems, such as finance, personnel, marketing, and op­ erations. They may have several plants and warehouses and a wide variety of machines and equipment devoted to producing a large number of different products. Moreover, they are subject to deterministic as well as stochastic discrete events, such as purchasing new equipment, hiring and layoff of personnel, and machine setups, failures, and repairs.
Vertaile hintoja
Optimal Consumption and Investment with Bankruptcy

Optimal Consumption and Investment with Bankruptcy

Suresh P. Sethi

Springer-Verlag New York Inc.
2012
nidottu
This book presents papers on continuous-time consumption­ investment models by Suresh Sethi and various co-authors. Sir Isaac Newton said that he saw so far because he stood on the shoulders of gi­ ants. Giants upon whose shoulders Professor Sethi and colleagues stand are Robert Merton, particularly Merton's (1969, 1971, 1973) seminal papers, and Paul Samuelson, particularly Samuelson (1969). Karatzas, Lehoczky, Sethi and Shreve (1986), henceforth KLSS, re­ produced here as Chapter 2, reexamine the model proposed by Mer­ ton. KLSS use methods of modern mathematical analysis, taking care to prove the existence of integrals, check the existence and (where appro­ priate) the uniqueness of solutions to equations, etc. KLSS find that un­ der some conditions Merton's solution is correct; under others, it is not. In particular, Merton's solution for aHARA utility-of-consumption is correct for some parameter values and not for others. The problem with Merton's solution is that it sometimes violates the constraints against negative wealth and negative consumption stated in Merton (1969) and presumably applicable in Merton (1971 and 1973). This not only affects the solution at the zero-wealth, zero-consumption boundaries, but else­ where as well. Problems with Merton's solution are analyzed in Sethi and Taksar (1992), reproduced here as Chapter 3.
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Optimal Control Theory

Optimal Control Theory

Suresh P. Sethi

Springer Nature Switzerland AG
2022
sidottu
This new 4th edition offers an introduction to optimal control theory and its diverse applications in management science and economics. It introduces students to the concept of the maximum principle in continuous (as well as discrete) time by combining dynamic programming and Kuhn-Tucker theory. While some mathematical background is needed, the emphasis of the book is not on mathematical rigor, but on modeling realistic situations encountered in business and economics. It applies optimal control theory to the functional areas of management including finance, production and marketing, as well as the economics of growth and of natural resources. In addition, it features material on stochastic Nash and Stackelberg differential games and an adverse selection model in the principal-agent framework. Exercises are included in each chapter, while the answers to selected exercises help deepen readers’ understanding of the material covered. Also included are appendices of supplementary material on the solution of differential equations, the calculus of variations and its ties to the maximum principle, and special topics including the Kalman filter, certainty equivalence, singular control, a global saddle point theorem, Sethi-Skiba points, and distributed parameter systems. Optimal control methods are used to determine optimal ways to control a dynamic system. The theoretical work in this field serves as the foundation for the book, in which the author applies it to business management problems developed from his own research and classroom instruction. The new edition has been refined and updated, making it a valuable resource for graduate courses on applied optimal control theory, but also for financial and industrial engineers, economists, and operational researchers interested in applying dynamic optimization in their fields.
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The Global Quality Management System

The Global Quality Management System

Suresh Patel

Productivity Press
2016
sidottu
The Global Quality Management System: Improvement Through Systems Thinking shows you how to understand and implement a global quality management system (GQMS) to achieve world-class business excellence. It illustrates the business excellence pyramid with the foundation of management systems at the system level, Lean System at the operational level, Six Sigma methodology at the tactical level, and business excellence at the strategy level.Throughout the book, the author stresses the importance of the process—its identification, definition, improvement, and control using "turtle diagrams" and its extension to supplier, input, process, output, and customer (SIPOC) diagrams. The processes discussed include the human resource (HR) process, finance process, project management process, and the important "process of improving the process." The author also includes advanced processes to comply with ISO 9001, ISO/TS 16949, and AS 9100 standards, and elaborates on management improvement through extensive plan–do–check–act (PDCA) analysis and the problem-solving methodology involving the famous eight disciplines process ("8D").As you put this book of knowledge into practice, you will discover the shifting roles of leaders and managers in your organization. It is not enough for leaders to merely continue past practices or support the work of others. Rather, leaders must lead the cultural transformation and change the mind-sets of their associates by building on the principles behind these excellent tools.
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Lean Transformation

Lean Transformation

Suresh Patel

Productivity Press
2016
sidottu
Books in the Quality and Business Excellence series can help readers improve customer value and satisfaction by integrating the voice of the customer into design, manufacturing, supply chain, and field processes. Lean Transformation: Cultural Enablers and Enterprise Alignment is about the Lean system. It begins by describing the reasons why so many Lean implementations fail and explaining why managers need to focus their valuable time on early adopters rather than on trying to convert resistors.This book describes the guiding principles of the Shingo process for continuous improvement layout and evaluation. It examines the principles, systems, and tools of continuous improvement and demonstrates how to deploy these proven methods in plants and distribution centers.The book covers time-tested continuous improvement process tools and practices, including the visual workplace, mistake proofing, PDCA, 5S, Heijunka, standard work, Kaizen, and value stream mapping. It also examines Lean performance measures and introduces a comprehensive Lean tool assessment system.Presenting seven proven techniques for altering and guiding a Lean culture, the book identifies a formal process for overcoming common roadblocks. It also illustrates the proliferation of the Lean initiative across an organization's various sites. This book describes how proper assessment of Lean system tools can help your organization remain focused on system standardization and boost your organization’s sustainability efforts. It includes job descriptions of various roles in the improvement process, including those for Lean supervisor and Lean team leader, as well as a glossary that defines key terms.
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The Tactical Guide to Six Sigma Implementation

The Tactical Guide to Six Sigma Implementation

Suresh Patel

Productivity Press
2016
sidottu
Books in the Quality and Business Excellence series can help readers enhance customer value and satisfaction by integrating the customer’s voice into design, manufacturing, supply chain, and field processes. Although there are many Six Sigma books on the market, few clarify the essential aspects of its implementation across various industries. The Tactical Guide to Six Sigma Implementation fills this need.Simplifying a complex subject and removing the intimidation of using statistics, the book takes readers through the five phases of the Six Sigma methodology—Define-Measure-Analyze-Improve-Control (DMAIC). In ten clearly written and easy-to-understand chapters, readers learn the purpose of each phase and what activities must be performed in each phase.The book illustrates the layout of the interaction of organizational processes—defining product and information flows separately such that each process receives product or information and, after completion of the process, supplies the output to the next process.The author identifies organizational processes through turtle and SIPOC diagrams, defining the process owner, inputs and outputs, and process customer for each process. He also explains how to determine the measures and goals of the process, and how to document the process so that further process improvements can be implemented through management reviews.The text presents a comprehensive process control plan assessment to comply with automotive, aerospace, and all types of manufacturing and service processes. It details 17 global quality management system processes covering management responsibility, resource management, product realization policies, and management analysis and improvement policies. It also provides comprehensive root cause analysis and problem solving techniques.Numerous figures, charts, formulae and forms are included throughout the book and all statistics are described to the exact level of understanding required. Books in this series are suitable for use as basic textbooks for Green Belt, Black Belt, BBA, and MBA courses in global quality, Lean Six Sigma, and business excellence.
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Business Excellence

Business Excellence

Suresh Patel

Productivity Press
2016
sidottu
An organization seeking to sustain and continually improve its competitive performance over many years must have a strategy – a Business Excellence Strategy.This book guides and illustrates the strategic journey to excellence, from major initiatives through everyday improvement programs, and helps the reader achieve of important strategic objectives and goals. This business excellence program will unite employees, internal and external customers, and suppliers through a common set of goals. It will help your organization improve at a pace that will outperform the competition and will elevate your company's reputation and marketshare.
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Narmada

Narmada

Suresh Patwa

Notion Press
2020
pokkari
Narmada, emerging from Amarkantak located in the heart of the country, engirdling two mountain ranges--Vindhya and Satpura--unpolluted, unsmudged and teeming, crisscrossing Rewanchal, Mahakoshal, Bundelkhand, Malwa, Nimar and Gurjar expanse, unceasingly moving to Bharuch for final consummation in the Arabian Sea, is unparalleled in terms of its heritage of beauty, affluence and solitude.Narmada was considered to be a virgin but its marriage is discussed in 'Rewa-Khand' of Skand- Puran. She appears as a rowdy young damsel up to Jabalpur and as a newly-married lady enriched with glow and adorableness on its onward journey towards Bharuch. In Sanskrit, 'Narm' means 'bliss' and 'da' means 'benefactor.' Thus, Narmada means 'Bliss Benefactor' or simply 'Joy Giver.' Its importance is well-emphasised through the fact that it is a source of water to cities like Jabalpur, Hoshangabad, Bhopal, Ujjain, Dewas and Indore. Power generation and irrigation facilities by 28 projects on Narmada and its tributaries have opened new vistas of economic prosperity. Not only can one discover Narmada in a total new perspective by going through this book but it also unfolds the history of the Narmada region (hitherto not so well documented) right from the mythical age to the modern times.
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Transient Stability Analysis and Improvement using FACTS Controllers

Transient Stability Analysis and Improvement using FACTS Controllers

Suresh Penagaluru; Sudheer Kasa; C H Lenin Babu

LAP Lambert Academic Publishing
2020
pokkari
Transient stability augmentations is an important requirement of any interconnected power system. It is well known that suitable placement of FACTS controllers in a power system can improve the stability performance of the system. To validate the effectiveness of different FACTS controllers it is essential to interface FACTS devices to an existing transient stability programme with minimal implementational and computational effort. In this book, FACTS controllers are modeled in a multi-machine transient programme by employing a generalized current-injection model. This approach provides a common procedure to model all types of series and shunt FACTS controllers. SVC, STATCOM, SSSC and UPFC have been modeled with typical control strategies.
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