Newsvendor Bounds and Heuristic for Optimal Policies in Serial Supply Chains.
Kevin H. ShangJing-Sheng SongPublished in: Manag. Sci. (2003)
Keyphrases
- optimal policy
- supply chain
- dynamic programming
- lost sales
- stochastic demand
- finite horizon
- supply chain management
- lead time
- inventory management
- inventory control
- infinite horizon
- markov decision processes
- state space
- decision problems
- reinforcement learning
- asymptotically optimal
- upper bound
- inventory models
- inventory policy
- state dependent
- long run
- single item
- finite state
- multistage
- decision making
- policy iteration
- customer demand
- service level
- lower bound
- inventory systems
- markov decision process
- sufficient conditions
- optimal solution
- demand uncertainty
- fixed cost
- average reward
- single stage
- large deviations
- average cost
- sample path
- initial state
- control policies
- lot sizing
- markov chain
- inventory level
- data mining