Average—Cost Control of Stochastic Manufacturing Systems

• Main Authors: Sethi, Suresh P. (Author), Zhang, Hanqin (Author), Zhang, Qing (Author)
• Corporate Author: SpringerLink (Online service)
• Format: Electronic eBook
• Language: English
• Published: New York, NY : Springer New York, 2005.
• Series: Stochastic Modelling and Applied Probability, 54
• Subjects: Business.; Leadership.; Production management.; Operations research.; Decision making.; Applied mathematics.; Engineering mathematics.; System theory.; Probabilities.; Business and Management.; Operations Management.; Business Strategy/Leadership.; Applications of Mathematics.; Systems Theory, Control.; Probability Theory and Stochastic Processes.; Operation Research/Decision Theory.
• Physical Description: XVI, 324 p. online resource.
• ISBN: 9780387276151
• ISSN: 0172-4568 ;

This book is concerned with hierarchical control of manufacturing systems under uncertainty. It focuses on system performance measured in long-run average cost criteria, exploring the relationship between control problems with a discounted cost and that with a long-run average cost in connection with hierarchical control. A new theory is articulated that shows that hierarchical decision making in the context of a goal-seeking manufacturing system can lead to a near optimization of its objective. The approach in the book considers manufacturing systems in which events occur at different time scales. .