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Suppose that two alternate approaches for determining machine schedules are available. One is an optimizing approach that can run once a week on the computer. The other is a dispatching approach that utilizes priority rules to determine the schedules as it evolves. What are the advantages and disadvantages of each approach and the conditions under which each approach is likely to be better?
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Optimization: No doubt optimization approach provides the best decision about schedules in terms of costs and time, however, they the decisions about schedule are based on certain apriori assumptions. These assumptions are about cost and time parameters. Also optimization approach works best when the system is stable to certain extent. In case of lot of uncertainties, …
