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Nonlinear receding horizon control of production inventory systems with deteriorating items. (English) Zbl 1183.90225

The authors present the predictive control of both continuous-review and periodic-review production inventory systems with deteriorating items. The model in the continuous case consists of a predictive cost function and a differential equation while in the discrete case it consists of a predictive cost function and a recurrent difference equation. These two models are reformulated as unconstrained minimization problems in terms of the control variable. The optimal production rates are the solutions of the obtained unconstrained minimization problems. Numerical simulations show the effectiveness of the proposed approach.

MSC:

90B50 Management decision making, including multiple objectives
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