Optimal production strategy under demand fluctuations: Technology versus capacity.
L. YangC. T. NgT. C. Edwin ChengPublished in: Eur. J. Oper. Res. (2011)
Keyphrases
- optimal production
- production process
- inventory management
- stochastic demand
- planning horizon
- production system
- production cost
- expected cost
- single product
- supply chain
- state dependent
- lead time
- production rate
- inventory control
- inventory level
- infinite horizon
- fixed cost
- holding cost
- total cost
- revenue management
- inventory policy
- lost sales
- optimal strategy
- multistage
- optimal policy
- production planning
- markov chain
- learning algorithm