Optimal Control Policy of an Inventory System with Postponed Demand.
P. Chitra DeviB. SivakumarAchyutha KrishnamoorthyPublished in: RAIRO Oper. Res. (2016)
Keyphrases
- control policy
- long run
- expected profit
- control policies
- approximate dynamic programming
- reinforcement learning
- inventory policy
- average cost
- lead time
- single item
- holding cost
- periodic review
- inventory level
- profit maximization
- inventory systems
- infinite horizon
- stochastic demand
- inventory control
- lot size
- finite horizon
- inventory replenishment
- inventory models
- optimal solution
- single period
- lot sizing
- total cost
- dynamic pricing
- inventory management
- expected cost
- batch mode
- single product
- lost sales
- setup cost
- planning horizon
- base stock policies
- supply chain
- state space
- multi item
- asymptotically optimal
- capacity expansion
- ordering cost
- state dependent
- joint replenishment
- multi echelon
- decision making
- dynamic programming
- production rate
- optimal policy
- markov decision processes
- single stage
- production cost