Stochastic Scheduling - Part I Stochastic Programming for a Single Period

Authors

Gifford H. Symonds

Document Type

Report

Publication Date

9-1-1964

Abstract

This study addresses stochastic scheduling, focusing on production and order schedules under uncertain demands. The approach involves periodically revising schedules to incorporate updated demand data, optimizing decision values for the current period and expected values for future periods. A novel method is introduced to transform stochastic scheduling problems into certainty equivalent problems, ensuring that solutions to the latter also optimize the original stochastic problem. The methodology emphasizes determining certainty equivalents of stochastic constraints, identifying critical planning horizons, and developing optimization procedures for inter-horizon schedules. Part I formulates and solves one-period programming problems, selecting stochastic solutions that meet probability constraints, thus advancing beyond traditional deterministic approaches to achieve robust and adaptable scheduling.

Keywords

Stochastic processes, Operations research, Production control, Planning--Mathematical models, Mathematical optimization

Publication Title

Technical Memorandums from the Department of Operations, School of Management, Case Western Reserve University

Issue

Technical memorandum no. 22

Rights

This work is in the public domain and may be freely downloaded for personal or academic use

Recommended Citation

Symonds, Gifford H., "Stochastic Scheduling - Part I Stochastic Programming for a Single Period" (1964). Research Reports from the Department of Operations. 558.
https://commons.case.edu/wsom-ops-reports/558