Newsvendor Bounds and A Heuristic for Optimal Policies in Serial Supply Chains.
Kevin H. ShangJing-Sheng SongPublished in: Manuf. Serv. Oper. Manag. (2002)
Keyphrases
- optimal policy
- supply chain
- lost sales
- dynamic programming
- inventory management
- stochastic demand
- finite horizon
- inventory control
- markov decision processes
- supply chain management
- customer demand
- lead time
- state dependent
- infinite horizon
- reinforcement learning
- inventory models
- order quantity
- service level
- finite state
- inventory systems
- asymptotically optimal
- state space
- decision problems
- multistage
- inventory policy
- upper bound
- long run
- lower bound
- markov decision process
- control policies
- average reward
- sufficient conditions
- inventory level
- large deviations
- sample path
- decision making
- fixed cost
- single item
- average cost
- linear program
- optimal solution
- single stage
- periodic review
- demand uncertainty
- policy iteration
- search algorithm
- data mining