Application of Dynamic Programming Model to Production Planning
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This book gives a practical step by step application of dynamic programming technique in production planning, with the objectives of minimizing the total cost of production and the annual inventory cost, at the same time meets the customer's demand. A specific production system was used as a case study, in other to make the reader feel at home on this aspect of operations research. This technique makes provisions for what to produce, when to produce and exactly how much to produce in other to satisfy the present demands and also make provisions for subsequent production periods during which ra...
This book gives a practical step by step application of dynamic programming technique in production planning, with the objectives of minimizing the total cost of production and the annual inventory cost, at the same time meets the customer's demand. A specific production system was used as a case study, in other to make the reader feel at home on this aspect of operations research. This technique makes provisions for what to produce, when to produce and exactly how much to produce in other to satisfy the present demands and also make provisions for subsequent production periods during which raw materials may be scarce. This book is useful for Industrial and Production Engineering Professionals, Researchers in operations research, Production Manager and Production Trainees.
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