Download or read book Minimum Average Cost Production Planning in Stochastic Manufacturing Systems written by Suresh Sethi and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recently, the production control problem in stochastic manufacturing systems has generated a great deal of interest. The goal is to obtain production rates to minimize total expected surplus and production cost. This paper reviews the research devoted to minimum average cost production planning problems in stochastic manufacturing systems. Manufacturing systems involve a single or parallel failure-prone machines producing a number of different products, random production capacity, and constant demands.