search query: @author Schneider, H. / total: 20
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| Author: | Schneider, H. Tang, K. O'Cinneide, C. |
| Title: | Optimal control of a production process subject to random deterioration. |
| Journal: | Operations Research
1990 : NOV-DEC, VOL. 38:6, p. 1116-1122 |
| Index terms: | PRODUCTION MANAGEMENT OPTIMAL CONTROL THEORY |
| Language: | eng |
| Abstract: | A model for determining the optimal control rule for a production process that is subject to random deterioration is developed. The decision rule includes the starting level of the process mean and the lower point at which the process should be adjusted back to the starting level. To simplify the solution, approximations were developed and a numerical study is presented which shows that the approximations are very effective in obtaining nearly optimal solutions. It is also shown that as the variance of the deterioration increases, the policy proposed becomes superior to a linear policy. |
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