Abstract
We consider a production system consisting of one machine and producing one part type. The machine is reliable and has a finite capacity. We consider a finite planning horizon consisting of N intervals of different lengths. The demand is constant in each interval and may vary from one interval to another. Intervals with demand greater than the production capacity cause the production to deviate from the demand in the preceding and following intervals. In order to keep the production close to the demand there is a trade off between inventory build-up and customer waiting time. An optimal control problem is formulated to determine the optimal production strategy. Solution technique is developed via Pontryagin's Minimum Principle.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
