Approximating an Optimal Production Policy in a Continuous Flow Line: Recurrence and Asymptotic Properties.
Houmin YanXun Yu ZhouGang George YinPublished in: Oper. Res. (1999)
Keyphrases
- optimal production
- asymptotic properties
- production process
- production system
- optimal policy
- expected cost
- production line
- manufacturing systems
- planning horizon
- inventory management
- state dependent
- production rate
- raw material
- infinite horizon
- stochastic demand
- inventory policy
- multistage
- production cost
- fixed point
- inventory level
- decision problems
- lead time
- service level
- finite horizon
- cost function
- supply chain
- markov decision processes
- expert systems
- search space
- single product
- type ii
- markov chain
- lot sizing
- objective function
- long run
- optimal strategy