Abstract
In this paper, the necessity of developing an aggregate production plan within a hierarchical decision process is discussed. A production planning problem formulated as a stochastic optimal control model with constraints is introduced. True optimal solution is only possible in particular cases. Often, a near optimal solution must be determined. A suboptimal technique, named OLFC, is proposed to solve the problem. A simple example is used to evaluate computationally the performance of the OLFC solution in relation to the True (closed-loop) and Mean (open-loop) optimal solutions
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