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Optimal control of deteriorating production inventory systems
Inventory systems deterioration optimal control Pontryagin maximum principle target
2009/1/8
We are using in this paper an optimal control approach to determine the optimal
production rate in a production inventory system where items are subject
to deterioration. Necessary and sufficient op...
In this paper, we develop a new probability criterion which is to minimize the sum of all probabilities that the inventory at the end of each stage exceeds a fixed level. It is shown that the optimal ...