A Stochastic Production Planning Problem with Random Demand

This paper considers an infinite horizon stochastic production planning problem with demand assumed to be a continuous-time Markov process. Problems with control (production) and state (inventory) constraints are treated. It is shown that a unique optimal feedback solution exists. This solution is characterized in terms of a turnpike set, toward which the optimal inventory level approaches monotonically

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Year of publication:	2020
Authors:	Soner, Halil Mete
Other Persons:	Fleming, Wendell H (contributor) ; Sethi, Suresh (contributor)
Publisher:	[2020]: [S.l.] : SSRN
Subject:	Produktionsplanung \| Production planning \| Theorie \| Theory \| Stochastischer Prozess \| Stochastic process \| Nachfrage \| Demand
Description of contents:	Abstract [papers.ssrn.com]

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Extent:	1 Online-Ressource
Type of publication:	Book / Working Paper
Language:	English
Notes:	In: Proceedings of the 24th IEEE Conference on Decision and Control, Fort Lauderdale, FL, Dec. 11-13, 1985, 1345-1346 Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments 1985 erstellt Volltext nicht verfügbar
Classification:	C61 - Optimization Techniques; Programming Models; Dynamic Analysis ; M11 - Production Management ; M20 - Business Economics. General
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10012834709