Optimal policies for inventory usage, production and pricing of fashion goods over a selling season.
Konstantin KoganUriel SpiegelPublished in: J. Oper. Res. Soc. (2006)
Keyphrases
- selling season
- optimal policy
- inventory level
- lead time
- dynamic pricing
- lost sales
- infinite horizon
- long run
- state space
- markov decision processes
- state dependent
- finite horizon
- decision problems
- inventory replenishment
- reinforcement learning
- dynamic programming
- single product
- multistage
- inventory control
- periodic review
- finite state
- inventory systems
- average reward
- supply chain
- inventory models
- stochastic demand
- sufficient conditions
- optimal production
- electronic commerce
- service level
- customer demand
- supply chain management
- average cost
- order quantity
- single stage
- lot sizing
- markov decision process
- asymptotically optimal
- production rate
- single item
- single period
- initial state
- policy iteration
- setup cost
- decision making
- search space
- revenue management
- markov chain