Predictive control of periodic-review production inventory systems with deteriorating items

Predictive control of periodic-review production inventory systems with deteriorating items

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Article ID: iaor2005448
Country: Spain
Volume: 12
Issue: 1
Start Page Number: 193
End Page Number: 208
Publication Date: Jun 2004
Journal: TOP
Authors: , ,
Keywords: deteriorating items
Abstract:

In this paper a predictive control strategy is applied to a periodic-review dynamic inventory system with deteriorating items. Given the current inventory level, we determine the optimal production rates to be implemented at the beginning of each of the following periods over the control horizon. The effectiveness of this approach is the use of future information of the inventory target level and the desired production rate, which are available, along the fixed horizon. The deterioration coefficient may be known or unknown and both cases are considered. In the case where it is unknown, the self-tuning predictive control is applied. The proposed control algorithms are illustrated by simulations.

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