T7

9 Abril 2018, 17:00 • António José Lopes Rodrigues

Continuous time Markov chains: basic concepts; transition rates; steady-state equations

Applications: maintenance example

TP6

26 Março 2018, 19:00 • António José Lopes Rodrigues

Exercises 13,14,15 (cost and temporal analysis of Markov chains in maintenance and inventory problems)

T6

26 Março 2018, 17:00 • António José Lopes Rodrigues

Temporal analysis of Markov Chains: first passage time (FPT); recurrence time; FPT probabilities; expected FPT; expected recurrence time.

Applications: inventory problems.

TP5

19 Março 2018, 19:00 • António José Lopes Rodrigues

Exercise 11 (cost analysis in another inventory problem with a simple cost function)

Exercise 12 (cost analysis in another inventory problem with a complex cost function)

T5

19 Março 2018, 17:00 • António José Lopes Rodrigues

Infinite-horizon inventory management problems: characterization of models, cost components, policies, optimality criteria.

Example: simulation of an infinite-horizon inventory system with a small number of states and evaluation of alternative reordering policies.

Cost analysis of Markov chains: evaluation of the expected average cost (per unit time).

Applications in inventory problems with simple cost functions (with only holding costs) or with complex cost functions (ordering and penalty costs).