Inventory-production control systems with gumbel distributed deterioration

Azizul Baten M., KAMIL A. A., Lateh H., Ahmed Khan Y.

International Journal of Applied Mathematics and Statistics, vol.34, no.4, pp.30-51, 2013 (Scopus) identifier

  • Publication Type: Article / Article
  • Volume: 34 Issue: 4
  • Publication Date: 2013
  • Journal Name: International Journal of Applied Mathematics and Statistics
  • Journal Indexes: Scopus
  • Page Numbers: pp.30-51
  • Keywords: Gumbel distribution, Inventory-production model, Optimal control, Perishable items, Sensitivity analysis
  • Istanbul Gelisim University Affiliated: No

Abstract

This paper is concerned with the optimal control of inventory-production system subject to Gumbel distributed deterioration items with applications to optimal control theory. We successfully formulated the model as a linear optimal control problem and obtained an explicit solution using Pontryagin maximum principle. The optimality conditions are derived in this case. It is then illustrated with the help of examples. © 2013 by CESER Publications.