A comprehensive extension of optimal ordering policy for stock-dependent demand under progressive payment scheme.
Jinn-Tsair TengIris-Pandora KrommydaKonstantina SkouriKuo-Ren LouPublished in: Eur. J. Oper. Res. (2011)
Keyphrases
- ordering policy
- payment scheme
- stochastic demand
- planning horizon
- lost sales
- finite horizon
- batch size
- order quantity
- inventory level
- manufacturing systems
- expected cost
- inventory control
- fixed cost
- inventory systems
- raw material
- optimal solution
- lead time
- multistage
- production planning
- service level
- lot sizing
- single item
- optimal control
- dynamic programming
- electronic payment
- state dependent
- batch mode
- lot size
- optimal strategy
- standard deviation
- optimal policy
- cost function
- active learning