Optimal management of a firm under known variation in the demand for products

Authors
Golovin, IY Shiryaev, VI
Citation
Iy. Golovin et Vi. Shiryaev, Optimal management of a firm under known variation in the demand for products, J COMP SYST, 40(4), 2001, pp. 599-605
Citations number
7
Categorie Soggetti
AI Robotics and Automatic Control
Journal title
JOURNAL OF COMPUTER AND SYSTEMS SCIENCES INTERNATIONAL
ISSN journal
10642307 → ACNP
Volume
40
Issue
4
Year of publication
2001
Pages
599 - 605
Database
ISI
SICI code
1064-2307(200107/08)40:4<599:OMOAFU>2.0.ZU;2-0
Abstract
A mathematical model is constructed for the management of a firm, A quadrat ic criterion is developed for the efficiency of operation that represents t he total expenses of the firm. Optimal management of the firm is obtained i n the form of a feedback law that guarantees efficient management under a v ariation in demand. Algorithmic software is worked out that can serve as a basis for the construction of an automated system for the management of the production and sales of an enterprise.