Implications on managing inventory systems for products with stock-dependent demand and nonlinear holding cost via the adaptive EOQ policy.
Zhanbing GuoHaojie WangPublished in: Comput. Oper. Res. (2023)
Keyphrases
- inventory systems
- holding cost
- lead time
- inventory level
- lost sales
- infinite horizon
- customer demand
- base stock levels
- base stock policy
- single item
- single stage
- periodic review
- optimal policy
- expected cost
- stochastic demand
- order quantity
- average cost
- total cost
- lot sizing
- inventory models
- inventory control
- setup cost
- production cost
- finite horizon
- supply chain
- long run
- single product
- service level
- inventory management
- asymptotically optimal
- random variables
- planning horizon
- optimal control
- multi item
- multistage
- state dependent
- dynamic programming
- markov decision processes
- dynamic pricing
- state space
- production planning
- cost function
- heavy traffic
- stochastic process
- decision making
- arrival rate
- sufficient conditions
- probabilistic model
- lower bound