TY - JOUR
T1 - Economic model predictive control for inventory management in supply chains
AU - Subramanian, Kaushik
AU - Rawlings, James B.
AU - Maravelias, Christos T.
N1 - Funding Information:
This research is partially supported by the National Science Foundation under Grant No. 0931835
PY - 2014/5/7
Y1 - 2014/5/7
N2 - In this paper, we propose economic model predictive control with guaranteed closed-loop properties for supply chain optimization. We propose a new multiobjective stage cost that captures economics as well as risk at a node, using a weighted sum of an economic cost and a tracking stage cost. We also demonstrate integration of scheduling with control using a supply chain example. We integrate a scheduling model for a multiproduct batch plant with a control model for inventory control in a supply chain. We show recursive feasibility of such integrated control problems by developing simple terminal conditions.
AB - In this paper, we propose economic model predictive control with guaranteed closed-loop properties for supply chain optimization. We propose a new multiobjective stage cost that captures economics as well as risk at a node, using a weighted sum of an economic cost and a tracking stage cost. We also demonstrate integration of scheduling with control using a supply chain example. We integrate a scheduling model for a multiproduct batch plant with a control model for inventory control in a supply chain. We show recursive feasibility of such integrated control problems by developing simple terminal conditions.
KW - Economic model predictive control
KW - Inventory control
KW - Scheduling
KW - Supply chain optimization
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U2 - 10.1016/j.compchemeng.2014.01.003
DO - 10.1016/j.compchemeng.2014.01.003
M3 - Article
AN - SCOPUS:84894262785
SN - 0098-1354
VL - 64
SP - 71
EP - 80
JO - Computers and Chemical Engineering
JF - Computers and Chemical Engineering
ER -