A joint optimal policy of block preventive replacement and spare part inventory.
Ruifeng YangJianshe KangPublished in: Int. J. Syst. Assur. Eng. Manag. (2017)
Keyphrases
- optimal policy
- inventory level
- finite horizon
- lost sales
- state dependent
- infinite horizon
- markov decision processes
- state space
- periodic review
- decision problems
- dynamic programming
- long run
- lead time
- inventory control
- reinforcement learning
- total cost
- expected cost
- optimal production
- single product
- stochastic demand
- multistage
- sufficient conditions
- base stock policies
- order quantity
- serial inventory systems
- average cost
- markov decision process
- base stock policy
- inventory management
- inventory models
- fixed cost
- single period
- sample path
- production rate
- policy iteration
- customer demand
- average reward
- control policies
- inventory systems
- dynamic pricing
- long run average cost
- asymptotically optimal
- ordering cost
- production planning
- probability distribution