Determining optimal production-inventory control policies for an inventory system with partial backlogging.
Kai-Ling MakPublished in: Comput. Oper. Res. (1987)
Keyphrases
- production inventory
- control policies
- lost sales
- finite horizon
- single product
- optimal policy
- periodic review
- infinite horizon
- inventory level
- production rate
- lot size
- total cost
- lot sizing
- inventory systems
- single item
- inventory models
- inventory control
- markov decision processes
- stochastic demand
- single stage
- dynamic programming
- production cost
- expected cost
- control policy
- average cost
- lead time
- inventory management
- multistage
- reinforcement learning
- decision problems
- planning horizon
- multi item
- optimal control
- holding cost
- revenue management
- control system
- state dependent
- sufficient conditions
- state space
- fixed cost
- setup cost
- markov decision process
- asymptotically optimal
- long run
- finite state
- replenishment policy
- dynamic pricing
- customer demand
- control strategies
- mathematical models