A note on optimal policies for a periodic inventory system with emergency orders.
Chi ChiangPublished in: Comput. Oper. Res. (2001)
Keyphrases
- optimal policy
- inventory level
- order quantity
- lost sales
- state dependent
- decision problems
- markov decision processes
- infinite horizon
- dynamic programming
- finite horizon
- long run
- state space
- reinforcement learning
- average reward
- sufficient conditions
- periodic review
- initial state
- multistage
- finite state
- inventory control
- average reward reinforcement learning
- customer demand
- inventory models
- single product
- fixed cost
- inventory systems
- decision making
- markov decision process
- learning algorithm
- dynamic pricing
- partially observable markov decision processes
- asymptotically optimal
- average cost
- dynamic programming algorithms
- supply chain
- serial inventory systems
- expected cost
- reward function
- sample path
- single period