An Optimal Stochastic Production Planning Problem with Randomly Fluctuating Demand

This paper considers an infinite horizon stochastic production planning problem with demand assumed to be a continuous-time Markov chain. The problems with control (production) and state (inventory) constraints are treated. It is shown that a unique optimal feedback solution exists, after first showing that convex viscosity solutions to the associated dynamic programming equation are continuously differentiable

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Year of publication:	[2017]
Authors:	Fleming, Wendell H
Other Persons:	Sethi, Suresh (contributor) ; Soner, Halil Mete (contributor)
Publisher:	[2017]: [S.l.] : SSRN
Subject:	Theorie \| Theory \| Produktionsplanung \| Production planning \| Stochastischer Prozess \| Stochastic process \| Mathematische Optimierung \| Mathematical programming \| Nachfrage \| Demand

Extent:	1 Online-Ressource (9 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	In: SIAM Journal on Control and Optimization, Vol. 25, No. 6, pp. 1494-1502, 1987 Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments 1987 erstellt
Classification:	C61 - Optimization Techniques; Programming Models; Dynamic Analysis ; M11 - Production Management
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://ebvufind01.dmz1.zbw.eu/10012746800