This book articulates a new theory that shows that hierarchical decision making can in fact lead to a near optimization of system goals. The material in the book cuts across disciplines. It will appeal to graduate students and researchers in applied mathematics, operations management, operations research, and system and control theory.

Preface * Notation * Part I: Introduction and Models of Manufacturing Systems * Concepts of Near-Optimal Control * Models of Manufacturing Systems * Part II: Optimal Control of Manufacturing Systems: Existence and Characterization * Optimal Control of Parallel Machine Systems * Optimal Control of Dynamic Flowshops * Optimal Controls of Jobshops * Risk-Sensitive Control * Part III: Near-Optimal Controls * Near-Optimal Control of Parallel Machine Systems * Near-Optimal Control of Dynamic Flowshops * Near-Optimal Controls of Jobshops * Near-Optimal Risk-Sensitive Control * Part IV: Conclusions * Further Extensions and Open Research Problems * Part V: Appendices * References * Author Index * Subject Index *