A numerical solution for a two-stage production and inventory system with random demand arrivals.
Andrew Junfang YuYuanyuan DongPublished in: Comput. Oper. Res. (2014)
Keyphrases
- numerical solution
- lot size
- inventory level
- production cost
- production inventory
- production rate
- state dependent
- lead time
- production capacity
- inventory costs
- profit maximization
- single product
- inventory policy
- partial differential equations
- lot sizing
- setup cost
- differential equations
- production planning
- lost sales
- infinite horizon
- total cost
- inventory control
- finite element
- inventory management
- single item
- supply chain
- expected cost
- optimal policy
- inventory systems
- planning horizon
- finite horizon
- dynamic pricing
- holding cost
- exact solution
- single server
- stochastic demand
- order quantity
- curve evolution
- service level
- level set
- arrival rate
- linear systems
- numerical methods