An uncertain production-inventory problem with deteriorating items

The uncertain production-inventory problem with deteriorating items is investigated and an optimal control model is developed in the present paper. The uncertain production-inventory problem is perturbed by an uncertain canonical process. Based on uncertainty theory, an optimistic-value optimal-base...

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Published in:Advances in continuous and discrete models 2022-05, Vol.2022 (1), Article 42
Main Authors: Shen, Jiayu, Jin, Yueqiang, Liu, Bing, Lu, Ziqiang, Chen, Xin
Format: Article
Language:English
Subjects:
Analysis
Confidence intervals
Difference and Functional Equations
Functional Analysis
Mathematics
Mathematics and Statistics
Nonlinear differential equations
Optimal control
Optimization
Ordinary Differential Equations
Partial Differential Equations
Uncertainty
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description The uncertain production-inventory problem with deteriorating items is investigated and an optimal control model is developed in the present paper. The uncertain production-inventory problem is perturbed by an uncertain canonical process. Based on uncertainty theory, an optimistic-value optimal-based control model is established. The present study aims to find the optimistic value of revenue at a certain confidence level. The uncertainty theory is used to obtain the equation of optimality. Using the Hamilton–Jacobi–Bellman principle, a nonlinear partial differential equation that has to be satisfied by a value function is obtained. Assuming a specific form of the solution, backsubstituting the partial differential equation to find functions of time is conducted, and the functions are then used to solve the partial differential equation. Numerical experiments with different demand functions are used to assess the feasibility of this model and this method.
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source Springer Nature - SpringerLink Journals - Fully Open Access; DOAJ Directory of Open Access Journals; Publicly Available Content (ProQuest)
subjects Analysis
Confidence intervals
Difference and Functional Equations
Functional Analysis
Mathematics
Mathematics and Statistics
Nonlinear differential equations
Optimal control
Optimization
Ordinary Differential Equations
Partial Differential Equations
Uncertainty
title An uncertain production-inventory problem with deteriorating items
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