Optimal Ordering Policies with Stochastic Demand and Price Processes.
Kimitoshi SatoKatsushige SawakiPublished in: Asia Pac. J. Oper. Res. (2012)
Keyphrases
- stochastic demand
- ordering policy
- inventory replenishment
- infinite horizon
- optimal policy
- optimal production
- inventory control
- finite horizon
- lost sales
- inventory policy
- order quantity
- single item
- periodic review
- lead time
- dynamic programming
- inventory systems
- markov decision processes
- machine learning
- ordering cost
- objective function