Davis, Mark H.A; Dempster, M.A.H; Sethi, Suresh; Vermes, D. - 2020
Capacity expansion is the process of providing new facilities over time to meet rising demand. A general mathematical … model of this process is presented, incorporating uncertain future demand (including the possibility of 'surprises'), non … expansion project. Optimization is studied by methods of stochastic control theory. Numerical algorithms are presented which …