Joint pricing and inventory control for a production-inventory queueing system.
Bara KimJeongsim KimSungji LeePublished in: Ann. Oper. Res. (2023)
Keyphrases
- inventory control
- single product
- production inventory
- periodic review
- finite horizon
- customer demand
- lead time
- lost sales
- inventory level
- state dependent
- inventory models
- dynamic pricing
- infinite horizon
- optimal policy
- supply chain
- stochastic demand
- pricing strategies
- long run
- fixed cost
- markov decision processes
- customer service
- arrival rate
- multistage
- steady state
- inventory systems
- total cost
- markov decision process
- single item
- service level
- setup cost
- queue length
- optimal control
- holding cost
- cost function
- expected cost
- lot sizing
- markov chain
- dynamic programming