A novel single-period inventory problem with uncertain random demand and its application.
Dan WangZhongfeng QinSamarjit KarPublished in: Appl. Math. Comput. (2015)
Keyphrases
- single period
- inventory models
- capacity expansion
- lost sales
- stochastic inventory
- periodic review
- single product
- order quantity
- inventory level
- inventory systems
- sample path
- lead time
- service level
- inventory control
- distribution function
- expected profit
- demand distributions
- inventory policy
- finite horizon
- multistage
- single stage
- decision making
- total cost
- inventory management
- average cost
- mathematical programming
- markov decision processes
- utility function
- dynamic programming