Optimal Auctioning and Ordering in an Infinite Horizon Inventory-Pricing System.
Garrett J. van RyzinGustavo J. VulcanoPublished in: Oper. Res. (2004)
Keyphrases
- infinite horizon
- inventory policy
- periodic review
- finite horizon
- ordering cost
- single product
- stochastic demand
- optimal control
- dynamic programming
- single item
- long run
- optimal policy
- fixed cost
- inventory models
- inventory systems
- markov decision processes
- average cost
- holding cost
- multi item
- production capacity
- service level
- optimal production
- lost sales
- single stage
- supply chain
- inventory replenishment
- inventory control
- production planning
- lead time
- markov decision process
- production inventory
- state space
- base stock policy
- inventory level
- production system
- revenue management
- lot size
- upper bound