Dual sourcing using capacity reservation and spot market: Optimal procurement policy and heuristic parameter determination.
Karl InderfurthPeter KelleRainer KleberPublished in: Eur. J. Oper. Res. (2013)
Keyphrases
- expected profit
- inventory policy
- parameter determination
- lead time
- dual sourcing
- spot market
- single period
- optimal solution
- dynamic programming
- control policy
- supply chain
- asymptotically optimal
- service level
- infinite horizon
- inventory models
- fixed cost
- finite horizon
- holding cost
- production cost
- risk management
- optimal policy
- decision variables
- single item
- feature selection
- control policies
- revenue management
- stochastic demand
- optimal control
- manufacturing systems
- production system
- reinforcement learning