Optimal Policies for a Multi-Echelon Inventory Problem.
Andrew J. ClarkHerbert E. ScarfPublished in: Manag. Sci. (2004)
Keyphrases
- multi echelon
- optimal policy
- assembly systems
- lead time
- multistage
- finite horizon
- infinite horizon
- markov decision processes
- decision problems
- inventory control
- state space
- dynamic programming
- reinforcement learning
- lost sales
- finite state
- demand distributions
- long run
- distribution systems
- lot sizing
- order quantity
- state dependent
- average cost
- average reward
- supply chain
- sufficient conditions
- optimal control
- inventory level
- initial state
- single item
- holding cost
- markov decision process
- utility function
- production system
- random variables
- asymptotically optimal
- service level
- learning algorithm