Accession Number : AD0702457

Title :   RESOURCE ALLOCATION IN A SEQUENTIAL FLOW PROCESS,

Corporate Author : CENTER FOR NAVAL ANALYSES ARLINGTON VA

Personal Author(s) : Silverman,Lester P.

Report Date : 05 MAR 1970

Pagination or Media Count : 28

Abstract : A stochastic flow process consisting of several independent sub-process stages is considered. At each stage, a probability density function of time to successful completion of the stage by any of the (assumed homogeneous) process items is a function of parameters which are in turn functions of the budget at which each sub-process is supported (decision variables). The process is generalized to allow for the possibility of auxiliary processing at each stage. The problem is to determine the minimum total budget which will yield a desired confidence in the total process being completed by some deadline. The problem is solved under different assumptions about the functional relationship between expenditures and the resulting improvement in process parameters. The fundamental purpose of the paper is to introduce the concept that, in complex systems, the implications of expenditures often are not known with certainty but can be viewed as altering the nature of the underlying stochastic process. (Author)

Descriptors :   (*INVENTORY CONTROL, SPARE PARTS), (*STOCHASTIC PROCESSES, DECISION THEORY), MANAGEMENT PLANNING AND CONTROL, OPTIMIZATION, PROBABILITY DENSITY FUNCTIONS, UNCERTAINTY, EFFICIENCY, TIME SERIES ANALYSIS, COSTS, SEQUENTIAL ANALYSIS, SUPPLY DEPOTS, TIME STUDIES

Subject Categories : Administration and Management
      Operations Research

Distribution Statement : APPROVED FOR PUBLIC RELEASE