OIDD Mid Term 1 cheat sheet.docx

# Setup cost per unit time kqr q economic order

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Setup cost per unit time = K/(Q/R) Q*= Economic Order Quantity (EOQ) Setup Times (Process interruptions) time Processing size Batch time Setup size Batch Capacity

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Production cycle: a repeating sequence of identical production runs. Batch: A set of flow units produced in a production cycle. Processing time is the time to produce one component set. time Processing Capacity - 1 time Setup Capacity size Batch For a process with setups, Utilization is: Flow Rate * Processing time. Average Inventory =0.5*Max Inventory B is batch size, p is processing time, R is flow Rate Queuing If demand exceeds capacity: Queue growth=Demand-Capacity Length of queue at time T= T*(demand-Capacity) Time to serve the Q th person in queue = Q / Capacity Time to serve a customer arriving at time T = T x (Demand/Capacity – 1) Average time to serve customers in the queue = ½ x T x (Demand/Capacity – 1) : Utilization = Implied utilization = p / (a x m) If Implied utilization is less than 100% then it is stable, else it is unstable Iq = (1/a) x Tq = Tq / a also Ip = (1/a) x p = p / a Probability Prior Probability: initial probability assessment The expected value of perfect information (EVPI) is the difference between the expected value of the decision with perfect information and the expected value of the decision without perfect information. posterior probability – the probability assessment after learning some information. or
• Fall '15
• GerardCachonandSergeiSavin

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