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:: Volume 8, Issue 1 (4-2017) ::
IJOR 2017, 8(1): 91-96 Back to browse issues page
Stochastic Dynamic Programming with Markov Chains for Optimal Sustainable Control of the Forest Sector with Continuous Cover Forestry
S Mohammadi Limaei Dr., Peter Lohmander Dr.
Ph. D. Optimal Solutions in cooperation with Linnaeus University, Umea, Sweden. , peter@lohmander.com
Abstract:   (449 Views)
We present a stochastic dynamic programming approach with Markov chains for optimal control of the forest sector. The forest is managed via continuous cover forestry and the complete system is sustainable. Forest industry production, logistic solutions and harvest levels are optimized based on the sequentially revealed states of the markets. Adaptive full system optimization is necessary for consistent results. The stochastic dynamic programming problem of the complete forest industry sector is solved. The raw material stock levels and the product prices are state variables. In each state and at each stage, a quadratic programming profit maximization problem is solved, as a subproblem within the STDP algorithm.
Keywords: Optimization, Stochastic dynamic programming, Markov chains, Forest sector, Continuous cover forestry
Full-Text [PDF 804 kb]   (190 Downloads)    
Type of Study: Original | Subject: Production/Inventory
Received: 2018/04/28 | Accepted: 2018/04/28 | Published: 2018/04/28
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Volume 8, Issue 1 (4-2017) Back to browse issues page
مجله انجمن ایرانی تحقیق در عملیات Iranian Journal of Operations Research
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