A two-demand-class inventory system with lost-sales and backorders.
Yun ZhouXiaobo ZhaoPublished in: Oper. Res. Lett. (2010)
Keyphrases
- lost sales
- inventory systems
- lead time
- inventory models
- optimal policy
- inventory management
- sample path
- single stage
- inventory control
- continuous review inventory
- inventory level
- multi item
- periodic review
- infinite horizon
- stochastic demand
- finite horizon
- production inventory
- stochastic lead times
- expected cost
- single period
- base stock policies
- markov decision processes
- demand distributions
- raw material
- order quantity
- markov chain
- reinforcement learning
- service level
- stationary distribution
- holding cost
- setup cost