Approximation algorithms for optimal purchase/inventory policy when purchase price and demand are stochastic.
Peter BerlingZhixue XiePublished in: OR Spectr. (2014)
Keyphrases
- inventory policy
- approximation algorithms
- inventory models
- np hard
- service level
- worst case
- multi item
- infinite horizon
- supply chain
- periodic review
- special case
- minimum cost
- expected profit
- constant factor
- ordering cost
- single period
- production system
- finite horizon
- single item
- inventory control
- approximation ratio
- combinatorial auctions
- inventory systems
- primal dual
- dynamic programming
- production cost
- learning algorithm
- long run
- multistage
- optimal solution
- reinforcement learning