Optimal replenishment policies for the case of a demand function with product-life-cycle shape in a finite planning horizon.
Cheng-Kang ChenChechen LiaoTzu-Chun WengPublished in: Expert Syst. Appl. (2007)
Keyphrases
- single product
- planning horizon
- optimal production
- revenue management
- supply chain
- demand function
- holding cost
- lead time
- finite horizon
- production planning
- total cost
- periodic review
- expected cost
- lot sizing
- optimal policy
- single period
- inventory management
- production process
- inventory systems
- infinite horizon
- production system
- inventory models
- single item
- fixed cost
- inventory control
- inventory level
- inventory policy
- life cycle
- customer demand
- capacity expansion
- markov decision process
- service level
- lot size
- multistage
- long run
- optimal solution
- lost sales
- markov decision processes
- multi item
- random variables
- dynamic programming
- average cost
- stochastic demand
- production cost
- state dependent