Of Physics and Factory Physics
Mark L. Spearman
Factory Physics, Inc, 3600 E. 29th Street, Bryan, Texas 77802, USA, spearman@factorphysics.com
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The “Principle of Least Action" is the foundational principle of fundamental physics. Application of this principle to the supply chain naturally results in an “uncertainty principle” linking variation in production to variation in netinventory. The model also provides an easy means of determining the stationary distribution of net-inventory for a variety of control strategies. The formalism results in a control strategy that outperforms commonly used control methods.
Key words: production-inventory models; Brownian motion; uncertainty
History: Received: May 2013; Accepted: September 2013 by Kalyan Singhal, after 1 revision.
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