Aggregate planning with continuous time

Aggregate planning with continuous time

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Article ID: iaor19961979
Country: Netherlands
Volume: 43
Issue: 1
Start Page Number: 1
End Page Number: 9
Publication Date: May 1996
Journal: International Journal of Production Economics
Authors:
Keywords: production
Abstract:

The production-smoothing problem wth continuous time was first analyzed by Arrow and Karlin. The paper deals with an extension of this model where undertime-overtime and hiring-firing costs are considered. To solve the problem, it applies the Pontryagin’s maximum principle. In the paper a simple forward algorithm is presented which is based on the solution of the optimal control problem.

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