Optimal Policies for Production/Inventory Systems with Finite Capacity and Markov-Modulated Demand and Supply Processes.
Guillermo GallegoHaichao HuPublished in: Ann. Oper. Res. (2004)
Keyphrases
- bayesian networks
- base stock policy
- optimal policy
- inventory systems
- lost sales
- single product
- finite horizon
- periodic review
- infinite horizon
- single stage
- inventory level
- markov decision processes
- decision problems
- multistage
- stochastic demand
- state dependent
- inventory models
- state space
- reinforcement learning
- lead time
- finite state
- dynamic programming
- inventory control
- multi item
- long run
- initial state
- lot sizing
- markov decision process
- single item
- average cost
- sufficient conditions
- machine learning
- asymptotically optimal
- production system
- random walk
- production planning
- steady state
- special case