liu.seSearch for publications in DiVA
Change search
Link to record
Permanent link

Direct link
Grubbström, Robert W.
Alternative names
Publications (10 of 63) Show all publications
Grubbström, R. W. (2022). Incorporating non-empty initial states into MRP Theory. International Journal of Production Research, 60(24), 7281-7300
Open this publication in new window or tab >>Incorporating non-empty initial states into MRP Theory
2022 (English)In: International Journal of Production Research, ISSN 0020-7543, E-ISSN 1366-588X, Vol. 60, no 24, p. 7281-7300Article in journal (Refereed) Published
Abstract [en]

MRP theory is a theoretical body treating production-inventory systems, in which produced items are made up of sets of produced or purchased sub-items, required to be available a lead-time before each product is completed. The hierarchical dependence between items is captured using input matrices from input-output-analysis, the necessary advanced timing by employing Laplace transform methodology, and the economic consequences by applying the net present value. Little attention has hitherto been given to aspects of a non-empty initial state, e.g. an initial inventory position. Since such states are common in industry, there is a strong need for this theory to include such aspects, in order to gain further practical acceptance. In this paper, theoretical consequences from having a non-empty initial state are investigated. A method for finding the Lot-for-Lot solution is developed using the concept of a truncated monotonically non-decreasing time function, generalising the approach of the generalised Leontief inverse and instrumental for designing plans meeting the necessary inner-corner requirement for optimality. Also the definition of inventory-related costs needs a modification for this concept to be consistent with NPV. These findings are applied in an extensive numerical example. Immediate future research concerns investigating principles for the optimal removal of initial backlogs.

Place, publisher, year, edition, pages
TAYLOR & FRANCIS LTD, 2022
Keywords
MRP theory; input-output-analysis; Laplace transform methodology; net present value; inventory-related costs
National Category
Production Engineering, Human Work Science and Ergonomics
Identifiers
urn:nbn:se:liu:diva-183913 (URN)10.1080/00207543.2022.2031332 (DOI)000769583800001 ()
Available from: 2022-03-31 Created: 2022-03-31 Last updated: 2023-02-21Bibliographically approved
Grubbström, R. W. (2021). Production decisions based on absolute vs. relative risk aversion and their extensions. International Journal of Production Economics, 234, Article ID 108036.
Open this publication in new window or tab >>Production decisions based on absolute vs. relative risk aversion and their extensions
2021 (English)In: International Journal of Production Economics, ISSN 0925-5273, E-ISSN 1873-7579, Vol. 234, article id 108036Article in journal (Refereed) Published
Abstract [en]

In this paper we compare the two basic risk preference measures suggested independently by John W. Pratt (1964) and Kenneth J. Arrow (1965) as to their impact on simple production decisions with uncertain economic outcomes. We develop a further related concept by introducing a risk aversion leverage measuring the dependence of absolute risk aversion on wealth. We also discover a remarkable approximate relation between risk aversion measures of different leverages making the corresponding risk preference functions similar and leading to a method for estimating different Certainty Monetary Equivalents using zero-leverage expressions. We concentrate on three simple cases of production decisions of the Newsboy type.

Place, publisher, year, edition, pages
ELSEVIER, 2021
Keywords
Risk aversion; Risk aversion leverage; Newsboy problem; Certainty monetary equivalent; Net present value; Internal risk aversion; Arrow-Pratt; CME; NPV; IRA
National Category
Economics
Identifiers
urn:nbn:se:liu:diva-175069 (URN)10.1016/j.ijpe.2021.108036 (DOI)000633039400004 ()
Available from: 2021-04-19 Created: 2021-04-19 Last updated: 2021-04-19Bibliographically approved
Grubbström, R. W. (2021). Transient Aspects of MRP Theory - Abridged. Tehnicki Glasnik -Technical Journal, 15(2), 287-297
Open this publication in new window or tab >>Transient Aspects of MRP Theory - Abridged
2021 (English)In: Tehnicki Glasnik -Technical Journal, ISSN 1846-6168, Vol. 15, no 2, p. 287-297Article, review/survey (Refereed) Published
Abstract [en]

MRP theory concerns production-inventory systems, in which produced items are made up of sets of sub-items, either produced or purchased (imported into the system) and required to be available a lead-time before the product is completed. The hierarchical dependence of relations between items is captured by the use of input matrices from Input-Output Analysis, the necessary advanced timing by applying the methodology of Laplace transforms, and the production-economic consequences by the net present value (NPV). This theory has been developed for about 40 years, but little attention has been given to transient aspects, i.e. when there happens to be an initial available inventory of items usable in future production. In this paper, we attempt to highlight the theoretical consequences from having a positive initial available inventory.

Place, publisher, year, edition, pages
Croatia: Sveuciliste Sjever, 2021
Keywords
Laplace transform methodology; Input-Output Analysis; NPV; Production Economics; MRP Theory
National Category
Environmental Management
Identifiers
urn:nbn:se:liu:diva-177860 (URN)10.31803/tg-20210502115657 (DOI)000659961200017 ()
Available from: 2021-07-06 Created: 2021-07-06 Last updated: 2025-02-10
Grubbström, R. W. & Hinterhuber, H. H. (Eds.). (2016). Nineteenth International Working Seminar on Production Economics, Pre-prints, Volume 1: Papers scheduled for Tuesday, February 23 2016 8.00 am to 21.15 pm. Paper presented at Nineteenth International Working Seminar on Production Economics, February 22-26, 2016, Innsbruck, Austria. Innsbruck: Congress Innsbruck
Open this publication in new window or tab >>Nineteenth International Working Seminar on Production Economics, Pre-prints, Volume 1: Papers scheduled for Tuesday, February 23 2016 8.00 am to 21.15 pm
2016 (English)Conference proceedings (editor) (Other academic)
Place, publisher, year, edition, pages
Innsbruck: Congress Innsbruck, 2016. p. 444
Keywords
Tillverkningsorganisation
National Category
Economics and Business
Identifiers
urn:nbn:se:liu:diva-128215 (URN)
Conference
Nineteenth International Working Seminar on Production Economics, February 22-26, 2016, Innsbruck, Austria
Available from: 2016-05-23 Created: 2016-05-23 Last updated: 2016-05-23Bibliographically approved
Grubbström, R. W. & Hinterhuber, H. H. (Eds.). (2016). Nineteenth International Working Seminar on Production Economics, Pre-prints, Volume 2: Papers scheduled for Tuesday, February 24, 2016, 8.00 am to 21.15 pm. Paper presented at Nineteenth International Working Seminar on Production Economics, February 22-26, Innsbruck, Austria. Innsbruck: Congress Innsbruck
Open this publication in new window or tab >>Nineteenth International Working Seminar on Production Economics, Pre-prints, Volume 2: Papers scheduled for Tuesday, February 24, 2016, 8.00 am to 21.15 pm
2016 (English)Conference proceedings (editor) (Other academic)
Place, publisher, year, edition, pages
Innsbruck: Congress Innsbruck, 2016. p. 540
Keywords
Tillverkningsorganisation
National Category
Economics and Business
Identifiers
urn:nbn:se:liu:diva-128217 (URN)
Conference
Nineteenth International Working Seminar on Production Economics, February 22-26, Innsbruck, Austria
Available from: 2016-05-23 Created: 2016-05-23 Last updated: 2016-05-23Bibliographically approved
Grubbström, R. W. & Hinterhuber, H. H. (Eds.). (2016). Nineteenth International Working Seminar on Production Economics, Pre-prints, Volume 3: Papers scheduled for Tuesday, February 25, 2016, 8.00 am to 20.30 pm. Paper presented at Nineteenth International Working Seminar on Production Economics, February 22-26, Innsbruck, Austria. Innsbruck: Congress Innsbruck
Open this publication in new window or tab >>Nineteenth International Working Seminar on Production Economics, Pre-prints, Volume 3: Papers scheduled for Tuesday, February 25, 2016, 8.00 am to 20.30 pm
2016 (English)Conference proceedings (editor) (Other academic)
Place, publisher, year, edition, pages
Innsbruck: Congress Innsbruck, 2016. p. 416
Keywords
Tillverkningsorganisation
National Category
Economics and Business
Identifiers
urn:nbn:se:liu:diva-128218 (URN)
Conference
Nineteenth International Working Seminar on Production Economics, February 22-26, Innsbruck, Austria
Available from: 2016-05-23 Created: 2016-05-23 Last updated: 2016-05-23Bibliographically approved
Grubbström, R. W. & Hinterhuber, H. H. (Eds.). (2016). Nineteenth International Working Seminar on Production Economics, Pre-prints, Volume 4: Papers scheduled for Tuesday, February 26, 2016, 8.00 am to 10.45 am. Paper presented at Nineteenth International Working Seminar on Production Economics, February 22-26, Innsbruck, Austria. Innsbruck: Congress Innsbruck
Open this publication in new window or tab >>Nineteenth International Working Seminar on Production Economics, Pre-prints, Volume 4: Papers scheduled for Tuesday, February 26, 2016, 8.00 am to 10.45 am
2016 (English)Conference proceedings (editor) (Other academic)
Place, publisher, year, edition, pages
Innsbruck: Congress Innsbruck, 2016. p. 200
Keywords
Tillverkningsorganisation
National Category
Economics and Business
Identifiers
urn:nbn:se:liu:diva-128220 (URN)
Conference
Nineteenth International Working Seminar on Production Economics, February 22-26, Innsbruck, Austria
Available from: 2016-05-23 Created: 2016-05-23 Last updated: 2016-05-23Bibliographically approved
Disney, S. M., Naim, M. M., Williams, S. J., Nussey, I. & Grubbström, R. W. (2015). Biographical-Item: In Memoriam: Professor Denis R. Towill 1933-2015 (170ed.). International Journal of Production Economics, 170, III-V
Open this publication in new window or tab >>Biographical-Item: In Memoriam: Professor Denis R. Towill 1933-2015
Show others...
2015 (English)In: International Journal of Production Economics, ISSN 0925-5273, E-ISSN 1873-7579, Vol. 170, p. iii–vp. III-VArticle in journal (Other academic) Published
Abstract [en]

n/a

Place, publisher, year, edition, pages
ELSEVIER SCIENCE BV, 2015. p. iii–v Edition: 170
National Category
Economics and Business
Identifiers
urn:nbn:se:liu:diva-124517 (URN)10.1016/S0925-5273(15)00417-X (DOI)000367486000001 ()
Available from: 2016-02-02 Created: 2016-02-01 Last updated: 2020-11-18
Grubbström, R. W. (2015). On the true value of resource consumption when using energy in industrial and other processes. International Journal of Production Economics, 170, 377-384
Open this publication in new window or tab >>On the true value of resource consumption when using energy in industrial and other processes
2015 (English)In: International Journal of Production Economics, ISSN 0925-5273, E-ISSN 1873-7579, Vol. 170, p. 377-384Article in journal (Refereed) Published
Abstract [en]

In this paper we attempt to provide a partial answer to the question of why energy is a scarce resource. Scarcity is a fundamental concept in the science of economics. If resources, goods or services were not in scarce supply, we need not economise when utilising them. Indeed, free commodities we need not pay for, their prices are zero, we attach no economic value to them, and their supply is in abundance - at least beyond the point at which our needs and wants are satisfied. However, energy is regarded as a scarce resource, although energy - as such - is not scarce. To describe energy as a useful and therefore a valuable quantity, to which a price may be attached, energy will thus have to be characterised in further dimensions than energy content alone. Apart from quantity, there is a need for a uniform qualitative measure of energy. The obvious field to revert to for such considerations is thermodynamics, which offers a method for defining a uniform measure for the qualitative content of energy, namely exergy. Although exergy is defined from purely physical properties, it is shown to have an important role to play when comparing the economic value of energy in different forms. In particular, this paper will focus on the economic value of heat, especially heat delivered through a district heating system. The concept of exergy is defined from maximising a work output reversibly taking an infinite time. However, for processes to run within finite horizons, entropy must be generated. This leads us to add finite time considerations from examining consequences from the assumed availability of so-called endo-reversible processes. In a small case example we show that heat appears to be overpriced compared to electricity from an exergetic point of view and that this is even more pronounced adopting finite time considerations. (C) 2015 Elsevier B.V. All rights reserved.

Place, publisher, year, edition, pages
Elsevier, 2015
Keywords
Energy value; Exergy; Second law; Finite time thermodynamics; Power potential
National Category
Economics and Business
Identifiers
urn:nbn:se:liu:diva-124500 (URN)10.1016/j.ijpe.2015.07.011 (DOI)000367486100002 ()
Available from: 2016-02-02 Created: 2016-02-01 Last updated: 2017-11-30
Andriolo, A., Battini, D., Grubbström, R. W., Persona, A. & Sgarbossa, F. (2014). A century of evolution from Harriss basic lot size model: Survey and research agenda. International Journal of Production Economics, 155, 16-38
Open this publication in new window or tab >>A century of evolution from Harriss basic lot size model: Survey and research agenda
Show others...
2014 (English)In: International Journal of Production Economics, ISSN 0925-5273, E-ISSN 1873-7579, Vol. 155, p. 16-38Article in journal (Refereed) Published
Abstract [en]

Determining the economic lot size has always represented one of the most important issues in production planning. This problem has long attracted the attention of researchers, and several models have been developed to meet requirements at minimum cost. In this paper we explore and discuss the evolution of these models during one hundred years of history, starting from the basic model developed by Harris in 1913, up to today. Following Harriss work, a number of researchers have devised extensions that incorporate additional considerations. The evolution of EOQ theory strongly reflects the development of industrial systems over the past century. Here we outline all the research areas faced in the past by conducting a holistic analysis of 219 selected journal papers and trying to give a comprehensive view of past work on the EOQ problem. Finally, a new research agenda is proposed and discussed.

Place, publisher, year, edition, pages
Elsevier, 2014
Keywords
Economic lot sizing; EOQ; EPQ; Theoretical framework; Survey Research agenda
National Category
Economics and Business
Identifiers
urn:nbn:se:liu:diva-111266 (URN)10.1016/j.ijpe.2014.01.013 (DOI)000341466000004 ()
Available from: 2014-10-15 Created: 2014-10-14 Last updated: 2017-12-05Bibliographically approved
Organisations

Search in DiVA

Show all publications