Manufacturing High-Tech Products Subject to Rapid Obsolescence

Luca Grosset () and Bruno Viscolani ()
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Luca Grosset: University of Padova
Bruno Viscolani: University of Padova

Journal of Optimization Theory and Applications, 2016, vol. 170, issue 3, No 16, 993-1008

Abstract: Abstract We formulate a production problem in high-tech industry as a free-final-time optimal control problem. The instance with linear production cost is equivalent to a problem proposed by Pangburn and Sundaresan. The instance with quadratic production cost allows us to find a solution which is closer to what is seen in the real world. In the latter instance, the optimal production rate is strictly decreasing in a neighborhood of the final time.

Keywords: Production; Capacity; Optimal control; Free final time; 91B38; 90B30; 49N90 (search for similar items in EconPapers)
Date: 2016
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DOI: 10.1007/s10957-016-0928-8

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