A generalization of the Theory of Constraints: Choosing the optimal improvement option with consideration of variability and costs.
Kan WuMeimei ZhengYichi ShenPublished in: IISE Trans. (2020)
Keyphrases
- dynamic programming
- theoretical framework
- expected cost
- markov decision
- budget constraints
- cost savings
- general theory
- linear constraints
- principal agent
- optimal solution
- optimal design
- theoretical basis
- significant improvement
- decision variables
- global constraints
- setup cost
- cost reduction
- optimal control
- cost function