Optimal Control of an Inventory with Simultaneous Obsolescence.
Markus EmsermannBurton SimonPublished in: Interfaces (2007)
Keyphrases
- optimal control
- infinite horizon
- dynamic programming
- control problems
- assembly systems
- stochastic demand
- control strategy
- feedback control
- optimal control problems
- class of nonlinear systems
- brownian motion
- lead time
- reinforcement learning
- finite horizon
- risk sensitive
- supply chain
- lot sizing
- single item
- service level
- fixed cost
- stochastic control
- control law
- inventory models
- dynamic pricing
- multi item
- inventory level
- average cost
- inventory control
- inventory management
- markov chain
- total cost
- periodic review
- single product
- expected cost
- linear quadratic
- optimal solution
- production planning