Profit optimization of batch-continuous production systems under stochastic processingconditions by simulation

Mihálykó-Orbán, Éva and Mihálykó, Csaba and Lakatos, B. G. and Szabó, T. and Papp, A. (2011) Profit optimization of batch-continuous production systems under stochastic processingconditions by simulation. HUNGARIAN JOURNAL OF INDUSTRIAL CHEMISTRY, 39 (3). pp. 353-358. ISSN 0133-0276

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Abstract

The properties of a production system working under stochastic processing conditions are investigated. The production system consists of batch units of an input subsystem and a continuously operated deterministic output one which are coupled by an intermediate storage system. The randomness of operation is caused by the uncertainties of batch sizes and the time intervals of arrival to the storage. Taking into account the expenses and the income arising from the production the expectation of the profit is defined and investigated. An integral equation is presented for the expected profit, and is solved using Monte Carlo method. The optimal initial amount of material to be processed, storage volume and withdrawing rate are determined by simulation.

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