Optimal Control Inventory Stochastic With Production Deteriorating

In this paper, we are using optimal control approach to determine the optimal rate in production. Most of the inventory production models deal with a single item. First build the mathematical models inventory stochastic, in this model we also assume that the items are in the same store. The mathemat...

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Bibliographic Details
Published in:IOP conference series. Materials Science and Engineering 2018-01, Vol.300 (1), p.12019
Main Author: Affandi, Pardi
Format: Article
Language:English
Subjects:
Inventory management
Mathematical analysis
Maximum principle
Optimal control
Optimization
Stochastic models
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Summary:In this paper, we are using optimal control approach to determine the optimal rate in production. Most of the inventory production models deal with a single item. First build the mathematical models inventory stochastic, in this model we also assume that the items are in the same store. The mathematical model of the problem inventory can be deterministic and stochastic models. In this research will be discussed how to model the stochastic as well as how to solve the inventory model using optimal control techniques. The main tool in the study problems for the necessary optimality conditions in the form of the Pontryagin maximum principle involves the Hamilton function. So we can have the optimal production rate in a production inventory system where items are subject deterioration.
ISSN:1757-8981
1757-899X
DOI:10.1088/1757-899X/300/1/012019