Optimal control of a dynamic production-inventory system with various cost criteria

In this article, we investigate the dynamic control problem of a production-inventory system. Here, demands arrive at the production unit according to a Poisson process and are processed in an FCFS manner. The processing time of the customer’s demand is exponentially distributed. Production manufact...

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Bibliographic Details
Published in:	Annals of operations research Vol. 337; no. 1; pp. 75 - 103
Main Authors:	Golui, Subrata, Pal, Chandan, Manikandan, R., Sobhanan, Abhay
Format:	Journal Article
Language:	English
Published:	New York Springer US 01.06.2024 Springer Springer Nature B.V
Subjects:	Algorithms Business and Management Combinatorics Control systems Customer services Customers Dynamic control Inventory Inventory control Inventory management Iterative algorithms Markov processes Mathematical optimization Methods Operations Research/Decision Theory Optimal control Original Research Probability distribution functions Queues Statistical analysis Theory of Computation Value analysis (Cost control) India Controlled Markov chain Cost criterion Policy iteration algorithm Primary 93E20 60J27 Value iteration algorithm Secondary 49L20 Production-inventory system
ISSN:	0254-5330, 1572-9338
Online Access:	Get full text
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