The question of allocation of control points in stochastic dynamic-programming models from different areas is considered. A widely used approach is to choose equal time intervals between successive control points. Conditions under which this choice may cease to be optimal are discussed. Two different approaches to statement and solution of a production-control problem are presented.
- Control points
- Dynamic programming
- Production control
ASJC Scopus subject areas
- Management Information Systems
- Strategy and Management
- Management Science and Operations Research