The infinite horizon non-stationary stochastic inventory problem: Near myopic policies and weak ergodicity.
Tetsuo IidaPublished in: Eur. J. Oper. Res. (1999)
Keyphrases
- infinite horizon
- non stationary
- stochastic inventory
- lost sales
- lead time
- optimal policy
- average cost
- finite horizon
- single period
- inventory systems
- inventory models
- multi item
- periodic review
- long run
- sample path
- stochastic demand
- markov decision processes
- dynamic programming
- single item
- single stage
- markov decision process
- optimal control
- inventory management
- production planning
- inventory control
- inventory level
- holding cost
- state space
- markov chain
- service level
- supply chain
- random variables
- policy iteration
- lot size
- queue length
- fixed cost
- reinforcement learning
- single product
- setup cost
- decision problems
- average reward
- customer demand
- sufficient conditions
- multistage