Title :
Single-item production-inventory control with shortages and backorders
Author :
Aliyu, M.D.S. ; Al-Ajmi, K.H.
Author_Institution :
Dept. of Syst. Eng., King Fahd Univ. of Pet. & Miner., Dhahran, Saudi Arabia
Abstract :
An inventory model of a single-item production system incorporating deterioration and shortages/backorders is presented. The linear quadratic theory (LQ) is used to develop an optimal policy which minimizes a quadratic cost criterion of production, inventory holding and shortages. The case of deterministic demand is considered and results of simulations have shown good agreement with the theory developed
Keywords :
linear quadratic control; minimisation; production control; stock control; backorders; deterioration; deterministic demand; linear quadratic theory; optimal policy; quadratic cost criterion; shortages; single-item production-inventory control; Cost function; Inventory control; Minerals; Modeling; Optimal control; Petroleum; Production planning; Production systems; Raw materials; Systems engineering and theory;
Conference_Titel :
American Control Conference, 1998. Proceedings of the 1998
Conference_Location :
Philadelphia, PA
Print_ISBN :
0-7803-4530-4
DOI :
10.1109/ACC.1998.703614
