Optimization of Production Planning by the Generalized Newton-Raphson Method

Abstract

The generalized Newton-Raphson method is combined with the classical techniques, such as the calculus of variations and the maximum principle, to obtain the optimum of production and advertising scheduling problem. It is shown that this combined approach is fairly effective. A highly nonlinear twelve-dimensional example is solved. Using roughly estimated functions, only six iterations are needed to obtain results with four-digit accuracy.