This graduate text develops production theory from a set of reasonable axioms. The theory is presented both in a primal and dual as well as in an indirect (constrained) framework. The basic model leads to a set of efficiency measures which can be readily employed in empirical work. A first draft of the text was used to teach students at Vanderbilt University. The text includes a variety of exercise problems.
At last, here is what logistics researchers have been waiting for: a book that comprehensively encapsulates for the first time the fundamentals of modeling Logistic Operating Curves for production and storage processes. The text includes information on how they can be derived and calculated based on standard operating data. In doing so, the authors clearly demonstrate the mutual dependencies between the often contradictory logistic objectives, i.e. on the one hand low throughput times and high delivery reliability and on the other hand low WIP levels and high rates of utilization. Moreover, they also explain how these objectives can be improved using the Logistic Operating Curve Theory and why this method thus provides an interesting alternative to simulations.
Production theory and the theory of cost both belong to the central areas of business administration, for all considerations concerning the economic organization of industrial manufacturing processes start from these. Two developments in the past 30 years have had a considerable influence on the structure and the concentration on points of emphasis in this book. I am referring to findings from KOOPMANS' activity analysis and to the formulation by GUTENBERG of a production function concept that focuses on industrial production processes. Activity analysis has made it possible to develop, from a uniform approach, different types of production functions which describe the concrete principles of production in the productive sector of a business enterprise; this has created a common basis for all production concepts in business administration. The Gutenberg Production Function with its different kinds of adjustment to a changing output has opened up a flexibility to theoretical and practical considerations that gave rise to a large number of additional studies in this area. Considerations in cost theory were in particular need of considerable extensions in the direction of cost minimal combined adjustment processes. By means of the organization of its contents, this book will take both approaches into due account. In that way, it is vastly different from other books dealing with the same subject. As a matter of course, traditional analytical methods and ways of thinking also constitute a large part of the book.
Comprehensively teaches the fundamentals of supply chain theory This book presents the methodology and foundations of supply chain management and also demonstrates how recent developments build upon classic models. The authors focus on strategic, tactical, and operational aspects of supply chain management and cover a broad range of topics from forecasting, inventory management, and facility location to transportation, process flexibility, and auctions. Key mathematical models for optimizing the design, operation, and evaluation of supply chains are presented as well as models currently emerging from the research frontier. Fundamentals of Supply Chain Theory, Second Edition contains new chapters on transportation (traveling salesman and vehicle routing problems), integrated supply chain models, and applications of supply chain theory. New sections have also been added throughout, on topics including machine learning models for forecasting, conic optimization for facility location, a multi-supplier model for supply uncertainty, and a game-theoretic analysis of auctions. The second edition also contains case studies for each chapter that illustrate the real-world implementation of the models presented. This edition also contains nearly 200 new homework problems, over 60 new worked examples, and over 140 new illustrative figures. Plentiful teaching supplements are available, including an Instructor’s Manual and PowerPoint slides, as well as MATLAB programming assignments that require students to code algorithms in an effort to provide a deeper understanding of the material. Ideal as a textbook for upper-undergraduate and graduate-level courses in supply chain management in engineering and business schools, Fundamentals of Supply Chain Theory, Second Edition will also appeal to anyone interested in quantitative approaches for studying supply chains.
The manufacturing industry will reap significant benefits from encouraging the development of digital manufacturing science and technology. Digital Manufacturing Science uses theorems, illustrations and tables to introduce the definition, theory architecture, main content, and key technologies of digital manufacturing science. Readers will be able to develop an in-depth understanding of the emergence and the development, the theoretical background, and the techniques and methods of digital manufacturing science. Furthermore, they will also be able to use the basic theories and key technologies described in Digital Manufacturing Science to solve practical engineering problems in modern manufacturing processes. Digital Manufacturing Science is aimed at advanced undergraduate and postgraduate students, academic researchers and researchers in the manufacturing industry. It allows readers to integrate the theories and technologies described with their own research works, and to propose new ideas and new methods to improve the theory and application of digital manufacturing science.
What is Isocost In economics, an isocost line shows all combinations of inputs which cost the same total amount. Although similar to the budget constraint in consumer theory, the use of the isocost line pertains to cost-minimization in production, as opposed to utility-maximization. For the two production inputs labour and capital, with fixed unit costs of the inputs, the equation of the isocost line is How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Isocost Chapter 2: Profit maximization Chapter 3: Differential calculus Chapter 4: Budget constraint Chapter 5: Marginal cost Chapter 6: Production-possibility frontier Chapter 7: Production function Chapter 8: Average cost Chapter 9: Isoquant Chapter 10: Cross section (geometry) Chapter 11: Cost curve Chapter 12: Conditional factor demands Chapter 13: Total cost Chapter 14: Marginal rate of technical substitution Chapter 15: Supply (economics) Chapter 16: Marginal product of capital Chapter 17: Marginal product of labor Chapter 18: Robinson Crusoe economy Chapter 19: Expansion path Chapter 20: Linear function (calculus) Chapter 21: Markowitz model (II) Answering the public top questions about isocost. (III) Real world examples for the usage of isocost in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Isocost.
