Optimal policy for an inventory system with demand dependent on price, time and frequency of advertisement.
Luis Augusto San-JoséJoaquín SiciliaBeatriz Abdul-JalbarPublished in: Comput. Oper. Res. (2021)
Keyphrases
- optimal policy
- lost sales
- inventory level
- periodic review
- inventory systems
- stochastic demand
- inventory control
- finite horizon
- base stock policy
- inventory models
- infinite horizon
- single stage
- state dependent
- markov decision processes
- inventory management
- periodic review inventory
- base stock policies
- order quantity
- sample path
- inventory replenishment
- reinforcement learning
- state space
- multistage
- optimal production
- lead time
- production inventory
- dynamic programming
- long run
- single product
- lot size
- single period
- demand distributions
- multi item
- ordering cost
- single item
- average reward
- sufficient conditions
- production rate
- dynamic pricing
- policy iteration
- customer demand
- markov decision problems
- inventory policy
- average cost
- holding cost
- fixed cost
- serial inventory systems
- long run average cost
- expected cost
- service level
- total cost
- production system
- supply chain
- cost function