A discrete approach to designing optimal hedging-point control policies for production-inventory systems with general stochastic behavior.
B. N. KhouryPublished in: Comput. Manag. Sci. (2009)
Keyphrases
- control policies
- inventory systems
- periodic review
- control policy
- reinforcement learning
- single stage
- control system
- optimal policy
- special case
- multi item
- finite horizon
- lost sales
- control strategies
- motion control
- long run
- dynamic programming
- multistage
- production planning
- stochastic optimization
- action space
- production system
- lot sizing
- optimal control
- sufficient conditions
- state dependent
- setup cost
- lead time