Optimal ordering policies for deteriorating items using a discounted cash-flow analysis when a trade credit is linked to order quantity.
Chun-Tao ChangLiang-Yuh OuyangJinn-Tsair TengMei-Chuan ChengPublished in: Comput. Ind. Eng. (2010)
Keyphrases
- order quantity
- flow analysis
- ordering policy
- optimal policy
- finite horizon
- infinite horizon
- dynamic programming
- stochastic demand
- lot size
- markov decision processes
- economic order quantity
- ordering cost
- service level
- information flow
- standard deviation
- lead time
- inventory policy
- markov decision process
- inventory systems
- single period
- lost sales
- single product
- multistage
- average cost
- single stage
- inventory control
- asymptotically optimal
- average reward
- decision problems
- state space
- long run
- periodic review
- reinforcement learning
- single item
- inventory level
- learning algorithm
- expected cost
- reward function
- optimal control
- random variables
- markov chain