Technical Note - Average Cost Optimality in Partially Observable Lost-Sales Inventory Systems.
Xingyu BaiXin ChenAlexander L. StolyarPublished in: Oper. Res. (2023)
Keyphrases
- lost sales
- average cost
- partially observable
- inventory systems
- infinite horizon
- optimal policy
- markov decision processes
- finite horizon
- single stage
- long run
- inventory models
- state space
- dynamic programming
- optimal control
- periodic review
- inventory control
- single item
- holding cost
- decision problems
- production planning
- setup cost
- initial state
- reinforcement learning
- inventory level
- markov decision process
- lead time
- finite state
- fixed cost
- order quantity
- multi item
- sufficient conditions
- decision making
- multistage
- reward function
- policy iteration
- state variables
- expected cost