A semi-Markov model with holdout transshipment policy and phase-type exponential lead time.
Jiaqi ZhangThomas W. ArchibaldPublished in: Eur. J. Oper. Res. (2011)
Keyphrases
- markov model
- lead time
- inventory level
- markov models
- markov chain
- service level
- supply chain
- infinite horizon
- stochastic demand
- hidden markov models
- holding cost
- lot sizing
- optimal policy
- inventory control
- single product
- planning horizon
- replenishment policy
- optimal production
- stochastic lead times
- inventory systems
- periodic review
- single item
- setup cost
- customer demand
- order quantity
- expected profit
- total cost
- lot size
- dynamic pricing
- lost sales
- single stage
- state dependent
- asymptotically optimal
- expected cost
- ordering cost
- random variables