DocumentCode
3281455
Title
Inventory control and LQG: Connections and extensions
Author
Wai Kit Ong ; Durango-Cohen, E.J. ; Chmielewski, D.J.
Author_Institution
Dept. of Chem. & Biol. Eng., Illinois Inst. of Technol., Chicago, IL, USA
fYear
2010
fDate
June 30 2010-July 2 2010
Firstpage
4391
Lastpage
4396
Abstract
This paper presents a review of two classical business approaches to inventory control. This is followed by a discussion of an engineering approach using Linear Quadratic Gaussian (LQG) control. The main result is to show that under certain conditions all three methods generate the same policy. Using the state-space model of the LQG formulation, we explore the multi-echelon system and model uncertainty cases.
Keywords
linear quadratic Gaussian control; state-space methods; stock control; uncertain systems; inventory control; linear quadratic Gaussian control; model uncertainty; multiechelon system; state space model; Chemical technology; Costs; Heart; Inventory control; Inventory management; Marketing and sales; Silver; Space technology; Timing; Uncertainty;
fLanguage
English
Publisher
ieee
Conference_Titel
American Control Conference (ACC), 2010
Conference_Location
Baltimore, MD
ISSN
0743-1619
Print_ISBN
978-1-4244-7426-4
Type
conf
DOI
10.1109/ACC.2010.5530770
Filename
5530770
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