A finite-horizon inventory system with partial backorders and inventory holdback.
Yanyi XuArnab BisiMaqbool DadaPublished in: Oper. Res. Lett. (2017)
Keyphrases
- finite horizon
- lost sales
- lot size
- infinite horizon
- single product
- lead time
- inventory control
- inventory policy
- optimal policy
- periodic review
- inventory models
- optimal stopping
- markov decision processes
- single item
- holding cost
- inventory systems
- stochastic demand
- lot sizing
- yield management
- service level
- supply chain
- markov decision process
- inventory management
- ordering cost
- single stage
- reinforcement learning
- inventory costs
- multistage
- ordering policy
- multi item
- order quantity
- setup cost
- inventory level
- average cost
- long run
- total cost
- dynamic programming
- production cost
- production planning
- expected reward
- non stationary