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• W2011127976 abstract "This paper deals with planning production of a single good over a prescribed finite interval of time [0, T]. The costs considered within the problem are production and holding costs; holding costs are incurred for negative inventory (caused by backlogged sales) and positive inventory (caused by production in excess of demand). The demand for the product is treated as a stochastic process. Problem formulation and optimization use tools from continuous-time stochastic variational calculus and control theory. Among its results, the paper proves the uniqueness of the optimal solution and provides an algorithm for the problem." @default.
• W2011127976 created "2016-06-24" @default.
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• W2011127976 date "1974-08-01" @default.
• W2011127976 modified "2023-09-27" @default.
• W2011127976 title "Production Planning for a Stochastic Demand Process" @default.
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• W2011127976 doi "https://doi.org/10.1287/opre.22.4.771" @default.
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