The Optimal Reorder Policy in an Inventory System with Spares and Periodic Review.
Michael DreyfussYahel GiatPublished in: OR (2019)
Keyphrases
- periodic review
- inventory systems
- inventory control
- inventory replenishment
- lead time
- single stage
- infinite horizon
- finite horizon
- single item
- optimal policy
- single product
- total cost
- lost sales
- base stock policies
- inventory models
- inventory policy
- long run
- base stock policy
- multi item
- multistage
- stochastic demand
- lot sizing
- holding cost
- single period
- inventory level
- supply chain
- expected cost
- ordering cost
- fixed cost
- production inventory
- dynamic programming
- service level
- average cost
- markov decision process
- optimal control
- optimal production
- planning horizon
- state dependent
- optimal solution
- dynamic pricing
- customer service
- revenue management
- lot size
- asymptotically optimal
- order quantity
- finite state
- customer demand
- inventory management