Abstract
An investigation is made of the optimal utilization of production processes. The focus is on finding the optimal shifts from one production process to another over some finite horizon, where a cost on the rate of change is imposed. The existence of planning and forecast horizons are discussed and a procedure that identifies them. The forecast horizon indicates the amount of information required to make an optimal decision within the planning horizon. These results are obtained by using control theory, in particular, by analyzing the effect of two state-constraints that are inherent in the problem. The results are demonstrated by numerical examples.
| Original language | English |
|---|---|
| Pages (from-to) | 260-278 |
| Number of pages | 19 |
| Journal | Operations Research |
| Volume | 27 |
| Issue number | 2 |
| DOIs | |
| State | Published - 1979 |