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Production Scheduling Risk
Abstract
The method is applied to Production Scheduling to manage the associated risk. DMAIC framework applies stochastic techniques. It runs stochastic optimisation to determine the optimal production schedules to minimise costs. It stimulates every determined optimal production schedule and calculate costs, risks, and Six Sigma metrics to measure against specified target limits. It analyses simulation results and identify and quantify the main contributors to the costs variability by using sensitivity analysis. The optimal production schedules are ranked based on their costs and associated risk factors. The technically best optimal production schedule is recommended to the management for implementation. Control stage is elaborated by reusing the data and presented stochastic optimisation and simulation models for ongoing management of the optimal strategy. Some changes are applied to the data and models however, in order to emulate the scenario of an implemented strategy.
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