Optimal Policies for a Dual-Sourcing Inventory Problem with Endogenous Stochastic Lead Times.
Jing-Sheng SongLi XiaoHanqin ZhangPaul H. ZipkinPublished in: Oper. Res. (2017)
Keyphrases
- stochastic lead times
- optimal policy
- lead time
- lost sales
- single period
- infinite horizon
- inventory systems
- inventory models
- supply chain
- finite horizon
- markov decision processes
- decision problems
- sample path
- base stock policy
- periodic review
- inventory management
- state space
- inventory control
- single stage
- reinforcement learning
- service level
- state dependent
- dynamic programming
- stochastic demand
- inventory policy
- multistage
- order quantity
- long run
- sufficient conditions
- single item
- inventory level
- single product
- total cost
- lot sizing
- finite state
- random variables
- policy iteration
- average cost
- holding cost
- control policies
- markov decision process
- average reward
- setup cost
- asymptotically optimal
- planning horizon
- customer demand
- supply chain management
- lot size
- multi item
- utility function