Optimal control of inventory-production systems with gumbel distributed deterioration

Baten M. A., KAMIL A. A.

International Journal of Physical Sciences, vol.6, no.7, pp.1851-1862, 2011 (Scopus) identifier

  • Publication Type: Article / Article
  • Volume: 6 Issue: 7
  • Publication Date: 2011
  • Journal Name: International Journal of Physical Sciences
  • Journal Indexes: Scopus
  • Page Numbers: pp.1851-1862
  • Keywords: Gumbel distributed deterioration, Inventory-production systems, Optimal control, Pontryagin maximum principle
  • Istanbul Gelisim University Affiliated: No

Abstract

This paper is concerned with the development of an inventory-production model for a special class of generalized extreme value, that is, gumbel distributed deterioration items. The production system with inventory-level-dependent demand is considered and Pontryagin maximum principle is used to determine the optimal control, which is the production rate that minimizes the optimal control model, while satisfying the system dynamics. The necessary optimality conditions are also derived in this case. It is then illustrated with the help of examples. © 2011 Academic Journals.