Most manufacturing systems are large, complex, and operate in an environment of uncertainty. It is common practice to manage such systems in a hierarchical fashion. 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.

and Models of Manufacturing Systems.- Concept of NearOptimal Control.- Models of Manufacturing Systems.- Optimal Control of Manufacturing Systems: Existence and Characterization.- Optimal Control of ParallelMachine Systems.- Optimal Control of Dynamic Flowshops.- Optimal Controls of Dynamic Jobshops.- Risk-Sensitive Control.- NearOptimal Controls.- NearOptimal Control of ParallelMachine Systems.- NearOptimal Control of Dynamic Flowshops.- NearOptimal Controls of Dynamic Jobshops.- NearOptimal RiskSensitive Control.- Conclusions.- Further Extensions and Open Research Problems.