Optimal Control of an Inventory System With Joint Production and Pricing Decisions.
Ping CaoJingui XiePublished in: IEEE Trans. Autom. Control. (2016)
Keyphrases
- optimal control
- profit maximization
- infinite horizon
- production capacity
- periodic review
- single product
- production planning
- inventory policy
- base stock policy
- control problems
- finite horizon
- dynamic programming
- dynamic pricing
- optimal production
- single item
- lot size
- feedback control
- reinforcement learning
- revenue management
- decision making
- inventory level
- control strategy
- decision makers
- stochastic demand
- production cost
- optimal control problems
- production rate
- risk sensitive
- class of nonlinear systems
- selling season
- lead time
- production process
- control law
- lot sizing
- average cost
- supply chain
- raw material
- inventory models
- holding cost
- setup cost
- linear quadratic
- total cost
- fixed cost
- multi item
- machine learning
- production system
- learning algorithm