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into a stochastic dynamic program and develop a novel approximate optimization approach to analyze and characterize the … of two kinds of raw materials (or their mixture) to produce an end product using a shared production line with stochastic … availability of the raw materials is also stochastic due to, among other things, delivery uncertainty. We formulate the problem …
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We consider the optimal production and inventory control of an assemble-to-order system with m components, one end-product, and n customer classes. A control policy specifies when to produce each component and, whenever an order is placed, whether or not to satisfy it from on-hand inventory. We...
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