An embedded Markov chain approach to stock rationing under batch orders.
Mehmet Murat FadilogluÖnder BulutPublished in: Oper. Res. Lett. (2019)
Keyphrases
- markov chain
- state dependent
- inventory level
- steady state
- stationary distribution
- monte carlo
- transition probabilities
- finite state
- stochastic process
- monte carlo method
- markov process
- state space
- markov model
- monte carlo simulation
- lost sales
- optimal policy
- random walk
- transition matrix
- single server
- service level
- lead time
- markov models
- queue length
- markov decision processes