A stochastic optimal control approach to a class of production and inventory problems (Q1062904)
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| Language | Label | Description | Also known as |
|---|---|---|---|
| English | A stochastic optimal control approach to a class of production and inventory problems |
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A stochastic optimal control approach to a class of production and inventory problems (English)
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1986
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A comprehensive and unified system control approach is presented to solve a class of production/inventory smoothing problems. A nonstationary, non- Gaussian, finite-time linear optimal solution with an attractive computation scheme is obtained for a general quadratic and linear cost structure. A complete solution to a classical production/inventory control problem is given as an example. A general solution to the discrete-time optimal regulator with arbitrary but known disturbance is provided and discussed in detail. A computationally attractive closed- loop suboptimal scheme is presented for problems with constraints or nonquadratic costs. Implementation and interpretation of the results are discussed.
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system control approach
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production/inventory smoothing
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nonstationary non-Gaussian finite-time linear optimal solution
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disturbance
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closed- loop suboptimal scheme
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stochastic processes
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