Energy Price and Workload Related Dispatching Rule: Balancing Energy and Production Logistics Costs

Balwin Bokor; Wolfgang Seiringer; Klaus Altendorfer; Thomas Felberbauer

Home/Archive/arXiv

arXiv · 2405.02445

Energy Price and Workload Related Dispatching Rule: Balancing Energy and Production Logistics Costs

Balwin Bokor·Wolfgang Seiringer·Klaus Altendorfer·Thomas Felberbauer

View original source ↗Read source document ↗Export metadata ↓

Abstract

In response to the escalating need for sustainable manufacturing practices amid fluctuating energy prices, this study introduces a novel dispatching rule that integrates energy price and workload considerations with Material Requirement Planning (MRP) to optimize production logistics and energy costs. The dispatching rule effectively adjusts machine operational states, i.e. turn the machine on or off, based on current energy prices and workload. By developing a stochastic multi-item multi-stage job shop simulation model, this research evaluates the performance of the dispatching rule through a comprehensive full-factorial simulation. Findings indicate a significant enhancement in shop floor decision-making through reduced overall costs. Moreover, the analysis of the Pareto front reveals trade-offs between minimizing energy and production logistics costs, aiding decision-makers in selecting optimal configurations.

Explore related subjects

econ.GN q-fin.EC

Keep this discovery

Explore connections, maps & timelines

BibTeX RIS

Balwin Bokor, Wolfgang Seiringer, Klaus Altendorfer, Thomas Felberbauer. 2024-11-04. Energy Price and Workload Related Dispatching Rule: Balancing Energy and Production Logistics Costs. https://arxiv.org/abs/2405.02445

Cite the original work for its findings. Save a collection to share your selection of sources.

KEEP EXPLORING

Related papers

arXiv2026

The time interpretation of expected utility theory

Ergodicity economics is a new branch of economic theory that notes the conceptual difference between time averages and expectation values, which coincide only for ergodic observables. It postulates that individual agents maximise the time average growth rate of wealth, known widely as growth optimality. This contrasts with the dominant behavioural model in economics, expected utility theory, in which agents maximise expectation values of changes in psychologically transformed wealth. Historically, growth optimality was explored for additive and multiplicative gambles. Here we apply it to a general class of wealth dynamics, extending the range of economic situations where it may be used. Moreover, we show a correspondence between growth optimality and expected utility theory, in which the ergodicity transformation in the former is identified as the utility function in the latter. This correspondence offers a theoretical basis for choosing utility functions and predicts that wealth dynamics are strong determinants of risk preferences.

econ.GN↗

arXiv2026

Monetary Regimes and Trade before the Classical Gold Standard: Evidence from the Latin Monetary Union

This paper reexamines the trade effects of the Latin Monetary Union (LMU), a 19th century agreement to standardize gold and silver coinage among several European countries. The LMU provides a useful setting for studying whether monetary arrangements fostered trade before the classical gold standard, when gold, silver, bimetallic, and paper regimes coexisted. Because some countries already shared other monetary standards, treating all non-member pairs as a single control group mixes pairs with and without alternative forms of monetary coordination. I classify pairs by standard and estimate the LMU effect relative to pairs without a common standard, bringing the comparison closer to those used in the literature on the gold standard and contemporary currency unions. The results suggest that the LMU increased trade between its members by approximately 30\% during its early years, when bimetallism was still credible. These effects subsequently faded, converging to zero by the end of the 1870s. More broadly, these findings also highlight the importance of accounting for the existing monetary regimes when estimating the trade effects of other international policies.

econ.GN↗

arXiv2026

Access to Live AI Advice and Behavior Under Risk: An Incentivized Experiment

Generative AI has become an everyday advisor, and the systems people consult are live and interactive, not pre-scripted. We ask whether access to such a system changes behavior under risk. In an incentivized experiment (N = 158), participants made lottery choices with an optional decision aid presented as a conventional pre-written tool, a live one-shot AI, or a live interactive AI they could query, with information format held equivalent across conditions. Risk preferences are elicited via DOSE. We find no evidence that access to a live AI advisor changes risk aversion.

econ.GN↗