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| Author: | Kreimer, J. Golenko-Ginzburg, D. Mehrez, A. |
| Title: | Allocation of control points in stochastic dynamic-programming models. |
| Journal: | Journal of the Operational Research Society
1988 : SEP, VOL. 39:9, p. 847-853 |
| Index terms: | DYNAMIC PROGRAMMING DYNAMIC MODELS PRODUCTION CONTROL STOCHASTIC PROCESSES ALLOCATION |
| Language: | eng |
| Abstract: | The question of allocation of control points in stochastic dynamic-programming models from different areas is considered. A widely used conventional approach presented in the literature is to take equal time intervals between consequent control points. The purpose is to discuss certain possible changes in model conditions which may lead to violation of optimality when equidistant control points are chosen. Four this purpose the statement and solution of the production-control model is presented within the framework of stochastic dynamic programming. It is shown, that to ensure optimality, the lenght of time intervals between the points must decrease monotonically. |
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