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Optimal Production (optimal + production)

Distribution by Scientific Domains
Business, Economics, Finance and Accounting66%

Selected Abstracts

Optimal production and maintenance policy for imperfect production systems

NAVAL RESEARCH LOGISTICS: AN INTERNATIONAL JOURNAL, Issue 2 2006
Chih-Hsiung Wang
Abstract A joint optimization of the production run length and preventive maintenance (PM) policy is studied for a deteriorating production system where the in-control period follows a general probability distribution with non-decreasing failure rate. In the literature, the sufficient conditions for the optimality of the equal-interval PM schedule is explored to derive an optimal production run length and an optimal number of PM actions. Nevertheless, an exhaustive search may arise. In this study, based on the assumption that the conditions for the optimality of the equal-interval PM schedule hold, we derive some structural properties for the optimal production/PM policy, which increases the efficiency of the solution procedure. These analyses have implications for the practical application of the production/PM model to be more available in practice. A numerical example of gamma shift distribution with non-decreasing failure rates is used to illustrate the solution procedure, leading to some insight into the management process. © 2005 Wiley Periodicals, Inc. Naval Research Logistics, 2006 [source]

Leishmania donovani -induced expression of signal regulatory protein , on Kupffer cells enhances hepatic invariant NKT-cell activation

EUROPEAN JOURNAL OF IMMUNOLOGY, Issue 1 2010
Lynette Beattie
Abstract Signal regulatory protein , (SIRP,) and its cognate ligand CD47 have been documented to have a broad range of cellular functions in development and immunity. Here, we investigated the role of SIRP,,CD47 signalling in invariant NKT (iNKT) cell responses. We found that CD47 was required for the optimal production of IFN-, from splenic iNKT cells following exposure to the ,GalCer analogue PBS-57 and in vivo infection of mice with Leishmania donovani. Surprisingly, although SIRP, was undetectable in the liver of uninfected mice, the hepatic iNKT-cell response to infection was also impaired in CD47,/, mice. However, we found that SIRP, was rapidly induced on Kupffer cells following L. donovani infection, via a mechanism involving G-protein-coupled receptors. Thus, we describe a novel amplification pathway affecting cytokine production by hepatic iNKT cells, which may facilitate the breakdown of hepatic tolerance after infection. [source]

The effects of skewness on optimal production and hedging decisions: An application of the skew-normal distribution

THE JOURNAL OF FUTURES MARKETS, Issue 3 2010
Donald Lien
Assume that the spot price has a skew-normal distribution. This study investigates the effect of skewness on optimal production and hedging decisions. It is shown that skewness has no effect on the optimal production level but induces the firm to become more active in futures trading. © 2009 Wiley Periodicals, Inc. Jrl Fut Mark 30:278,289, 2010 [source]

Hedging under counterparty credit uncertainty

THE JOURNAL OF FUTURES MARKETS, Issue 3 2008
Olivier Mahul
This study investigates optimal production and hedging decisions for firms facing price risk that can be hedged with vulnerable contracts, i.e., exposed to nonhedgeable endogenous counterparty credit risk. When vulnerable forward contracts are the only hedging instruments available, the firm's optimal level of production is lower than without credit risk. Under plausible conditions on the stochastic dependence between the commodity price and the counterparty's assets, the firm does not sell its entire production on the vulnerable forward market. When options on forward contracts are also available, the optimal hedging strategy requires a long put position. This provides a new rationale for the hedging role of options in the over-the-counter markets exposed to counterparty credit risk. © 2008 Wiley Periodicals, Inc. Jrl Fut Mark 28: 248,263, 2008 [source]

Criteria for optimal production under uncertainty.

AUSTRALIAN JOURNAL OF AGRICULTURAL & RESOURCE ECONOMICS, Issue 4 2003
The state-contingent approach
The state-contingent approach to production economics presented by Chambers and Quiggin provides a new basis for deriving optimality criteria for production under uncertainty. In the present paper criteria are formally derived for risk-averse producers. It is not possible to derive useful criteria for strictly risk-averse producers, but useful criteria for risk-neutral producers are presented for three different types of input. Based on a formal definition of ,good' and ,bad' states of nature, the use of inputs and levels of production of strictly risk-averse producers are compared to those of risk-neutral producers. Depending on the type of input, risk-averse producers may use more or less input than risk-neutral producers. [source]