Optimal finite-horizon production control in a defect-prone environment.
Konstantin KoganChang ShuJames R. PerkinsPublished in: IEEE Trans. Autom. Control. (2004)
Keyphrases
- finite horizon
- optimal stopping
- lot size
- infinite horizon
- control policies
- single product
- optimal control
- optimal policy
- inventory policy
- inventory control
- markov decision processes
- average cost
- inventory models
- production planning
- raw material
- markov decision process
- stochastic demand
- multistage
- control system
- periodic review
- control strategy
- single item
- yield management
- control policy
- ordering cost
- production line
- total cost
- state space
- dynamic programming