Optimal Control of a Brownian Production/Inventory System with Average Cost Criterion

DOI10.1287/moor.2013.0603zbMath1311.49046OpenAlexW2071191354MaRDI QIDQ5169697

Jingchen Wu, Xiuli Chao

Publication date: 11 July 2014

Published in: Mathematics of Operations Research (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1287/moor.2013.0603

zbMATH Keywords

optimal controldynamic programmingBrownian motionstochastic controlstochastic differential equationsproduction/inventory systems

Mathematics Subject Classification ID

Stochastic ordinary differential equations (aspects of stochastic analysis) (60H10) Dynamic programming in optimal control and differential games (49L20) Inventory, storage, reservoirs (90B05) Optimal stochastic control (93E20) Optimality conditions for problems involving randomness (49K45) Applications of Brownian motions and diffusion theory (population genetics, absorption problems, etc.) (60J70) Existence of optimal solutions to problems involving randomness (49J55)

Related Items (15)

A production-inventory problem with price-sensitive demand ⋮ Average Cost Brownian Drift Control with Proportional Changeover Costs ⋮ Management of online server congestion using optimal demand throttling ⋮ Optimal interventions of infectious disease ⋮ Optimal policy for Brownian inventory models with general convex inventory cost ⋮ Control: a perspective ⋮ Technical Note—On the Optimality of Reflection Control ⋮ Operational Risk Management: A Stochastic Control Framework with Preventive and Corrective Controls ⋮ Impulse Control with Discontinuous Setup Costs: Discounted Cost Criterion ⋮ Optimal Drift Rate Control and Impulse Control for a Stochastic Inventory/Production System ⋮ Optimal control policy for a Brownian inventory system with concave ordering cost ⋮ The economic average cost Brownian control problem ⋮ Optimal pricing, production, and inventory for deteriorating items under demand uncertainty: the finite horizon case ⋮ Robust Inventory Management: An Optimal Control Approach ⋮ Performance analysis of a reflected fluid production/inventory model

This page was built for publication: Optimal Control of a Brownian Production/Inventory System with Average Cost Criterion