Optimal Policy for a Multiechelon Inventory System with Batch Ordering and Fixed Replenishment Intervals.
Xiuli ChaoSean X. ZhouPublished in: Oper. Res. (2009)
Keyphrases
- ordering cost
- optimal policy
- infinite horizon
- inventory level
- single product
- finite horizon
- inventory systems
- lost sales
- lot sizing
- lead time
- periodic review
- single item
- single stage
- order quantity
- inventory policy
- fixed cost
- multi item
- inventory control
- decision problems
- markov decision processes
- long run
- dynamic programming
- reinforcement learning
- state space
- expected cost
- inventory models
- state dependent
- multistage
- sufficient conditions
- lot size
- stochastic demand
- production planning
- optimal control
- holding cost
- markov decision process
- supply chain
- customer demand
- optimal production
- dynamic pricing
- total cost
- single period
- inventory replenishment
- revenue management
- average cost
- production rate
- average reward
- planning horizon
- policy iteration
- asymptotically optimal