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Further extensions and open research problems

  • Suresh P. Sethi
  • Qing Zhang
Chapter
Part of the Systems & Control: Foundations & Applications book series (SCFA)

Abstract

In this book we have considered cost-minimizing or profit-maximizing manufacturing systems in which deterministic as well as stochastic events occur at different time scales. In particular, rates at which production machines break down and get repaired are much higher than the rate of discounting costs and may be higher than the rates of changes in demand. For such a system, we have presented theoretical developments devoted to showing that a properly synthesized hierarchy and properly designed hierarchical decision-making procedures can lead to near optimization of its overall objective.

Keywords

Manufacturing System Error Bound Asymptotic Optimality Optimal Feedback Control Stochastic Differential Game 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer Science+Business Media New York 1994

Authors and Affiliations

  • Suresh P. Sethi
    • 1
  • Qing Zhang
    • 2
  1. 1.Faculty of ManagementUniversity of TorontoTorontoCanada
  2. 2.Department of MathematicsUniversity of GeorgiaAthensUSA

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