Optimal Policies for Multiechelon Inventory Problems with Markov-Modulated Demand.
Fangruo ChenJing-Sheng SongPublished in: Oper. Res. (2001)
Keyphrases
- optimal policy
- inventory level
- lost sales
- infinite horizon
- poisson process
- decision problems
- markov modulated
- inventory systems
- stochastic demand
- finite horizon
- lead time
- periodic review
- state dependent
- markov decision processes
- reinforcement learning
- inventory control
- state space
- long run
- finite state
- demand distributions
- single stage
- lot sizing
- single item
- dynamic programming
- inventory replenishment
- multistage
- dynamic pricing
- multi item
- initial state
- order quantity
- partially observable markov decision processes
- inventory models
- average cost
- inventory policy
- sufficient conditions
- special case
- holding cost