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| Author: | Love, C. Turner, M. |
| Title: | Note on utilizing stochastic optimal control in aggregate production planning |
| Journal: | European Journal of Operational Research
1993 : MAR 12, VOL. 65:2, p. 199-206 |
| Index terms: | OPTIMAL CONTROL THEORY DYNAMIC PROGRAMMING SYSTEM DYNAMICS |
| Language: | eng |
| Abstract: | This note summarizes research into the use of stochastic optimal control in solving aggregate production scheduling problems. The approach is compared to deterministic approaches to the problem, commonly proposed in the literature. Stochastic optimal control provides a rich methodology for exploring such situations. In particular, it is found that it can accommodate a wide variety of non-linear cost structures. Furthermore, it is an ideal planning tool when the operating environment contains a significant degree of uncertainty. |
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