Optimal Control of a Make-to-Stock System with Outsourced Production and Price-Sensitive Demand
We consider a make-to-stock system with controllable demand rate (by varying product selling price) and adjustable service rate (by outsourcing production). With one outsourcing alternative and a choice of either high or low price, the system decides at any point in time whether to produce or even o...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Hindawi Limited
2014-01-01
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| Series: | Discrete Dynamics in Nature and Society |
| Online Access: | http://dx.doi.org/10.1155/2014/301309 |