Forward Sourcing or Spot Trading? Optimal Commodity Procurement Policy with Demand Uncertainty Risk and Forecast Update.
Qiang LiBaozhuang NiuLap Keung ChuPublished in: IEEE Syst. J. (2017)
Keyphrases
- uncertain demand
- supply chain
- demand uncertainty
- asymptotically optimal
- electronic commerce
- optimal policy
- reverse auction
- optimal solution
- service level
- state dependent
- decision making
- finite horizon
- supply chain management
- fixed cost
- nash equilibrium
- expected profit
- demand function
- dynamic programming
- reinforcement learning