Global optimal policy for vendor-buyer integrated inventory system within just in time environment.
P. C. YangHui-Ming WeeH. J. YangPublished in: J. Glob. Optim. (2007)
Keyphrases
- optimal policy
- finite horizon
- infinite horizon
- order quantity
- state dependent
- lost sales
- inventory level
- long run
- markov decision processes
- state space
- stochastic demand
- optimal production
- inventory control
- dynamic programming
- supply chain
- periodic review
- decision problems
- reinforcement learning
- inventory replenishment
- inventory models
- average reward
- lead time
- markov decision process
- multistage
- total cost
- control policies
- base stock policy
- single product
- serial inventory systems
- single item
- average cost
- sufficient conditions
- lot size
- single stage
- production process
- bayesian reinforcement learning
- service level
- sample path
- decision making
- ordering cost
- manufacturing systems
- optimal control
- inventory policy
- reward function
- production rate
- multi item