Optimal control of production management systems with diffusion demand

Optimal control of production management systems with diffusion demand

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Article ID: iaor19921281
Country: Japan
Volume: 4
Issue: 7
Start Page Number: 28
End Page Number: 35
Publication Date: Jul 1991
Journal: Transactions of the Institute of Systems, Control and Information Engineers
Authors: , ,
Keywords: control, programming: dynamic, statistics: regression
Abstract:

So far many studies about the production management systems have dealt with demand under uncertainty, which is regarded as a time-independent random variable. This paper discusses the production management systems when demand follows Markov diffusions. The stochastic control method is applied to the analytical derivation of the optimal production policies. Main objects in this paper are to extend a deterministic model in the earlier contributions to the stochastic one and further to clear the properties of control in the production management systems, considering the differences of the shapes between some demand distributions. [In Japanese.]

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