Error Analysis of an Approximate Optimal Policy for an inventory System with Stochastic and continuous Demands.
Wei GengJianyong LiuXiaobo ZhaoPublished in: Asia Pac. J. Oper. Res. (2012)
Keyphrases
- error analysis
- periodic review inventory
- optimal policy
- lead time
- finite horizon
- demand distributions
- periodic review
- lost sales
- state dependent
- markov decision processes
- setup cost
- infinite horizon
- ordering cost
- least squares
- dynamic programming
- inventory control
- supply chain
- finite state
- inventory level
- stochastic demand
- single item
- state space
- reinforcement learning
- single period
- error correction
- inventory models
- lot sizing
- total cost
- multistage
- long run
- inventory systems
- sample path
- sufficient conditions
- stochastic inventory control
- order quantity
- markov decision process
- average reward
- lot size
- asymptotically optimal
- single product
- optimal production
- base stock policy
- service level
- partially observable markov decision processes
- average cost