AN APPLICATION OF THE MULTISTAGE MONTE-CARLO OPTIMIZATION ALGORITHM TO AGGREGATE PRODUCTION PLANNING


BAKIR M. A. , BYRNE M.

INTERNATIONAL JOURNAL OF PRODUCTION ECONOMICS, vol.35, pp.207-213, 1994 (Journal Indexed in SCI) identifier identifier

  • Publication Type: Article / Article
  • Volume: 35
  • Publication Date: 1994
  • Doi Number: 10.1016/0925-5273(94)90083-3
  • Title of Journal : INTERNATIONAL JOURNAL OF PRODUCTION ECONOMICS
  • Page Numbers: pp.207-213

Abstract

The restrictions to the use of analytical optimization approaches in the production and inventory management domain are widely recognized. Most significant among these restrictions is the limitation imposed by the need to model the real system by simple functions (normally linear or quadratic) if an optimal solution is to be obtained.