Function approximation for a production and storage problem under uncertainty

Arruda, E. F., Val, J. B. R. do and Almudevar, A. (2005) Function approximation for a production and storage problem under uncertainty. In IEEE International Conference Mechatronics and Automation, 2005. vol. 2, pp. 665-670 . (doi:10.1109/ICMA.2005.1626629).

Record type: Conference or Workshop Item (Paper)

Abstract

In this work, we present an approximate value iteration algorithm for a production and storage model with multiple production stages and a single final product, subject to random demand. We use linear function approximation schemes in subsets of the state space and represent a few key states in a look-up table form. We obtain some promising results and perform sensitivity analysis with respect to the parameters of the algorithm for the benchmark problem studied.

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Published date: 1 July 2005

Keywords: function approximation, production management, iterative methods, storage, production problem, storage problem, approximate value iteration algorithm, linear function approximation, state space, sensitivity analysis, Function approximation, Production, Uncertainty, Least squares approximation, Dynamic programming, Approximation algorithms, Sensitivity analysis, Stochastic systems, Biology computing, Biomedical engineering