Optimal Policy for a Periodic-Review Inventory System Under a Supply Capacity Contract.
Xiuli ChaoPaul H. ZipkinPublished in: Oper. Res. (2008)
Keyphrases
- periodic review inventory
- optimal policy
- finite horizon
- lead time
- setup cost
- supply chain
- markov decision processes
- state space
- reinforcement learning
- decision problems
- holding cost
- infinite horizon
- finite state
- long run
- sufficient conditions
- dynamic programming
- multistage
- production cost
- lost sales
- state dependent
- average cost
- service level
- stochastic demand
- lot sizing
- inventory control
- ordering cost
- inventory models
- single product
- machine learning
- initial state
- supply chain management
- single item
- fixed cost
- multi item
- inventory systems
- customer demand
- revenue management
- inventory level
- reward function
- production planning