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.
All Science Journal Classification (ASJC) codes
- Chemical Engineering(all)
- Computer Science Applications
- Economic model predictive control
- Inventory control
- Supply chain optimization