publication . Article . 1984

STOCHASTIC PRODUCTION PLANNING WITH PRODUCTION CONSTRAINTS

Alain Bensoussan; N. Derzko; Raymond G. Vickson; Suresh P. Sethi;
Restricted
  • Published: 01 Jan 1984
Abstract
This paper considers an infinite horizon stochastic production planning problem with the constraint that production rate must be nonnegative. It is shown that an optimal feedback solution exists for the problem. Moreover, this solution is characterized and is then compared with the solution of the unconstrained problem. Also obtained, by using a policy iteration procedure, are computational solutions to the related problems with upper bounds on the production rate.
Subjects
free text keywords: Control and Optimization, Applied Mathematics, Optimal control, Production control, Infinite horizon, Mathematics, Aggregate planning, Production planning, Stochastic control, Dynamic programming, Mathematical optimization, Production rate
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