A Complete Algebraic Transformational Solution for the Optimal Dynamic Policy in Inventory Rationing across Two Demand Classes.
Quan-Lin LiYi-Meng LiJing-Yu MaHeng-Li LiuPublished in: CoRR (2019)
Keyphrases
- fixed cost
- planning horizon
- infinite horizon
- periodic review
- optimal production
- ordering cost
- total cost
- single product
- lot sizing
- inventory level
- lead time
- single item
- stochastic demand
- inventory control
- inventory models
- optimal policy
- inventory policy
- holding cost
- expected cost
- lost sales
- ordering policy
- base stock policy
- inventory replenishment
- service level
- state dependent
- optimal solution
- base stock levels
- production planning
- finite horizon
- dynamic programming
- supply chain
- long run
- lot size
- production inventory
- production capacity
- replenishment policy
- single period
- markov decision processes
- pricing strategies
- production rate
- inventory systems
- setup cost
- multistage
- demand function
- single stage
- production system
- inventory costs
- base stock policies
- random variables
- production process
- optimal pricing
- multi item
- expected profit
- allocation policy
- joint replenishment
- steady state
- dynamic pricing
- robust optimization
- stationary distribution
- order quantity
- customer demand
- production cost