This paper considers a production-inventory problem in which the manufacturer participates in an energy buy-back program, which offers him probabilistic opportunities with rewards for not using electricity. That is, the manufacturer will get paid for stopping production to save on electricity....

We consider two specially structured assemble-to-order (ATO) systems -- the N- and W-systems -- under continuous review, stochastic demand, and non-identical component replenishment leadtimes. Using a hybrid approach that combines sample-path analysis, linear programming, and the tower property...

This paper is concerned with explicit optimal control for a deterministic manufacturing system consisting of a single reliable machine and producing two part types studied by Connolly (Master Thesis, Operations Research Center, MIT, Cmbridge, 1992) and Gershwin (Manufacturing Systems...

What is Optimal Control Theory? -- The Maximum Principle: Continuous Time -- The Maximum Principle: Mixed Inequality Constraints -- The Maximum Principle: General Inequality Constraints -- Applications to Finance -- Applications to Production and Inventory -- Applications to Marketing -- The...