• DocumentCode
    3070006
  • Title

    A stochastic production planning problem with random demand

  • Author

    Soner, H. ; Fleming, W.H. ; Sethi, S.P.

  • Author_Institution
    Institute for Mathematics and its applications
  • fYear
    1985
  • fDate
    11-13 Dec. 1985
  • Firstpage
    1345
  • Lastpage
    1346
  • Abstract
    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.
  • Keywords
    Equations; Markov processes; Production planning; Stochastic processes;
  • fLanguage
    English
  • Publisher
    ieee
  • Conference_Titel
    Decision and Control, 1985 24th IEEE Conference on
  • Conference_Location
    Fort Lauderdale, FL, USA
  • Type

    conf

  • DOI
    10.1109/CDC.1985.268727
  • Filename
    4048527
    • Link To Document
    https://search.isc.ac/dl/search/defaultta.aspx?DTC=49&DC=3070006