Optimal lot-size policy for deteriorating items with stock-dependent demand considering profit maximization.
Valentín PandoLuis Augusto San-JoséJuan García-LagunaJoaquín SiciliaPublished in: Comput. Ind. Eng. (2018)
Keyphrases
- lot size
- finite horizon
- lead time
- profit maximization
- expected profit
- total cost
- infinite horizon
- lot sizing
- inventory costs
- optimal policy
- planning horizon
- setup cost
- inventory policy
- inventory level
- holding cost
- multistage
- single item
- expected cost
- production planning
- markov decision processes
- inventory control
- production cost
- long run average cost
- production process
- average cost
- stochastic demand
- replenishment policy
- state dependent
- dynamic programming
- inventory systems
- periodic review
- supply chain
- lost sales
- asymptotically optimal
- service level
- inventory models
- single product
- bayesian networks
- markov decision process
- order quantity
- long run
- optimal control
- markov chain
- reinforcement learning