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Of Physics and Factory Physics
Author(s) -
Spearman Mark L.
Publication year - 2014
Publication title -
production and operations management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 3.279
H-Index - 110
eISSN - 1937-5956
pISSN - 1059-1478
DOI - 10.1111/poms.12188
Subject(s) - formalism (music) , factory (object oriented programming) , supply chain , variety (cybernetics) , computer science , inventory control , variation (astronomy) , operations research , physics , mathematics , artificial intelligence , business , marketing , art , musical , astrophysics , visual arts , programming language
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 net‐inventory. 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.