A myopic policy for the gradual obsolescence problem with price-dependent demand.
Francisco J. ArcelusT. P. M. PakkalaGopalan SrinivasanPublished in: Comput. Oper. Res. (2002)
Keyphrases
- infinite horizon
- stochastic demand
- dynamic pricing
- selective perception
- optimal policy
- finite horizon
- inventory policy
- revenue management
- state dependent
- demand function
- holding cost
- lead time
- optimal pricing
- single item
- asymptotically optimal
- allocation policy
- production inventory
- single product
- lost sales
- long run
- inventory systems
- inventory control
- markov decision process
- ordering cost
- policy making
- inventory models
- periodic review
- optimal capacity
- steady state
- lot size
- brute force
- reinforcement learning