Hedging point policies remain optimal under limited backlog and inventory space.
Francesco MartinelliPaolo ValigiPublished in: IEEE Trans. Autom. Control. (2004)
Keyphrases
- lead time
- holding cost
- long run
- base stock policies
- periodic review
- multi echelon
- inventory replenishment
- echelon stock
- service level
- optimal production
- single item
- expected cost
- supply chain
- infinite horizon
- joint replenishment
- revenue management
- worst case
- inventory systems
- optimal policy
- dynamic programming
- lost sales
- optimal control
- state dependent
- finite horizon
- asymptotically optimal
- inventory policy
- sample path
- finished goods inventory
- replenishment policy
- allocation policy
- search space
- stochastic demand
- control policies
- control policy
- production process
- low dimensional
- order quantity
- optimal pricing
- fixed cost
- multi item
- setup cost