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Variance reduction in a process with random linear drift
Journal article   Peer reviewed

Variance reduction in a process with random linear drift

K S AlSultan and M A AlFawzan
International journal of production research, Vol.35(6), pp.1523-1533
01/06/1997
DOI: https://doi.org/10.1080/002075497195092

Abstract

Engineering Engineering, Industrial Engineering, Manufacturing Operations Research & Management Science Science & Technology Technology
In this paper, we consider the model of Rahim and Banerjee (1988) for a process with random linear drift. We present a modification of this model, then we study the effect of the variance of the process on the optimal production cycle, and consequently on the total cost per good item. We also provide a numerical example.

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