Abstract

In this paper, a dynamical model of single product inventory system with unknown demand in a linear state space equation with unknown parameter for inventory control purposes was formulated. An existing control method, robust linear quadratic regulator (RLQR), was applied to control the inventory level by generating the optimal purchasing product volume so that the product stock follows a reference trajectory with minimal cost. The result of the performed numerical experiments showed that the optimal purchasing product volume was determined for every time period and the product stock was closed to the given trajectory level desired by the decision maker.

Full Text
Paper version not known

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 call

Disclaimer: 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.