Optimal control of nonsmooth production systems with deteriorating items, stock-dependent demand, with or without backorders (Q2310988)
From MaRDI portal
scientific article
Language | Label | Description | Also known as |
---|---|---|---|
English | Optimal control of nonsmooth production systems with deteriorating items, stock-dependent demand, with or without backorders |
scientific article |
Statements
Optimal control of nonsmooth production systems with deteriorating items, stock-dependent demand, with or without backorders (English)
0 references
10 July 2019
0 references
Summary: We propose a nonsmooth dynamic system integrating production and inventory where the items may deteriorate and the demand is stock-dependent. We aim to derive the optimal production rate. In our first model, backorders are not allowed, while in the second model they are. Using optimal control, necessary optimality conditions are obtained for general forms of the cost, demand, and deterioration rates and closed form solutions are derived for specific forms of these rates. Numerical simulations are presented and sensitivity of the solutions are examined.
0 references
nonsmooth production inventory systems
0 references
item deterioration
0 references
backorder
0 references
optimal control
0 references
maximum principle
0 references
0 references
0 references
0 references
0 references