Optimal Control Model of Production-Inventory System
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62690094%3A18450%2F14%3A50002601" target="_blank" >RIV/62690094:18450/14:50002601 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Alternative languages
Result language
angličtina
Original language name
Optimal Control Model of Production-Inventory System
Original language description
Among the most important problems that are faced by manufacturing enterprises can be production planning and inventory levels. Many companies use a production-inventory system to cope with uctuations in consumer demand for their products. If the companydecides, or is forced, to store its products that are manufactured but not directly sold, additional costs for holding the non-sold products in warehouses have to be considered. The paper deals with a dynamical model of production-inventory system of a certain company. It aims to nd optimal practice for the company for the given forecast time horizon. The objective function is given by a nite integral that represents the strategy of management to keep both the inventory and production as close as possible to the desired level. Since the model signi cantly depends on the speci c function of a particular demand, which is considered here as an exogenous, models with di erent demand functions are studied in this paper as well.
Czech name
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Czech description
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Classification
Type
D - Article in proceedings
CEP classification
BC - Theory and management systems
OECD FORD branch
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Result continuities
Project
<a href="/en/project/GA14-02424S" target="_blank" >GA14-02424S: Methods of operations research for decision support under uncertainty</a><br>
Continuities
S - Specificky vyzkum na vysokych skolach
Others
Publication year
2014
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Article name in the collection
Mathematical methods in economics (MME 2014) : 32nd international conference
ISBN
978-80-244-4209-9
ISSN
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e-ISSN
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Number of pages
6
Pages from-to
825-830
Publisher name
Univerzita Palackého
Place of publication
Olomouc
Event location
Olomouc
Event date
Sep 10, 2014
Type of event by nationality
WRD - Celosvětová akce
UT code for WoS article
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