multistage stochastic programming is a key technology for making decisions over time in an uncertain environment. one of the promising areas in which this technology is implementable, is medium term planning of electricity production and trading where decision makers are typically faced with uncertain parameters (such as future demands and market prices) that can be described by stochastic proc...

Not only highly flexible production processes require the proper production planning to ensure high effectiveness. But especially the high flexibility makes the production planning and acquisition of relevant data completely complicated. The need of on-line join to supply chain multiplies the planning problem in consequence of tasks processed for the partners, tasks that may be processed by par...

This paper discusses why the selection of a finite planning horizon is preferable to an infinite one for a replenishment policy of production inventory models. In a production inventory model, the production rate is dependent on both the demand rate and the inventory level. When there is an exponentially decreasing demand, the application of an infinite planning horizon model is not suitable. T...