Raw materials and production control with random supply and demand, an outside market and production capacity.
Yi FengSami AbdusGladys TuoShaoxiang ChenPublished in: Oper. Res. Lett. (2022)
Keyphrases
- raw material
- production capacity
- production cost
- lost sales
- lot size
- inventory level
- total cost
- infinite horizon
- manufacturing systems
- production system
- inventory control
- supply chain
- customer demand
- planning horizon
- dynamic pricing
- single item
- customer orders
- periodic review
- inventory systems
- lead time
- optimal policy
- finite horizon
- lot sizing
- expected cost
- long run
- stochastic demand
- production planning
- single stage
- setup cost
- dynamic programming
- holding cost
- multistage
- control system
- optimal control
- fixed cost
- markov decision processes
- multi item