Title :
Inventory control and LQG: Connections and extensions
Author :
Wai Kit Ong ; Durango-Cohen, E.J. ; Chmielewski, D.J.
Author_Institution :
Dept. of Chem. & Biol. Eng., Illinois Inst. of Technol., Chicago, IL, USA
fDate :
June 30 2010-July 2 2010
Abstract :
This paper presents a review of two classical business approaches to inventory control. This is followed by a discussion of an engineering approach using Linear Quadratic Gaussian (LQG) control. The main result is to show that under certain conditions all three methods generate the same policy. Using the state-space model of the LQG formulation, we explore the multi-echelon system and model uncertainty cases.
Keywords :
linear quadratic Gaussian control; state-space methods; stock control; uncertain systems; inventory control; linear quadratic Gaussian control; model uncertainty; multiechelon system; state space model; Chemical technology; Costs; Heart; Inventory control; Inventory management; Marketing and sales; Silver; Space technology; Timing; Uncertainty;
Conference_Titel :
American Control Conference (ACC), 2010
Conference_Location :
Baltimore, MD
Print_ISBN :
978-1-4244-7426-4
DOI :
10.1109/ACC.2010.5530770
