Scheduling heating oil production is an important management problem. It is also a complex one. Weather and demand uncertainties, allocation of production between different refineries, joint- and by-product relations, storage limitations, maintenance of minimal supplies and many other factors...

The stochastic scheduling problem discussed in this paper is similar to the classical inventory model. It is concerned with the demand for a single commodity expressed as a set of independent stochastic variables with known distributions and an objective functional composed of production and...