On computing optimal policies in perishable inventory control using value iteration.
Eligius M. T. HendrixGloria Ortega LópezRené HaijemaMarjolein E. BuismanInmaculada GarcíaPublished in: Comput. Math. Methods (2019)
Keyphrases
- inventory control
- optimal policy
- finite horizon
- lost sales
- markov decision processes
- infinite horizon
- inventory models
- decision problems
- stochastic demand
- state space
- markov decision process
- reinforcement learning
- inventory level
- long run
- dynamic programming
- policy iteration
- single product
- inventory systems
- average reward
- sample path
- periodic review
- finite state
- state dependent
- lead time
- initial state
- multistage
- customer demand
- lot size
- single stage
- sufficient conditions
- average cost
- demand distributions
- single item
- partially observable markov decision processes
- asymptotically optimal
- pricing strategies
- machine learning
- customer service
- optimal control