Optimal stationary policies in a 3-stage serial production-distribution logistic chain facing constant and continuous demand.
Julien BoissièreYannick FreinChristophe RapinePublished in: Eur. J. Oper. Res. (2008)
Keyphrases
- stationary policies
- inventory level
- markov decision processes
- profit maximizing
- lot size
- lot sizing
- dynamic programming
- production cost
- markov decision process
- linear program
- action sets
- state space
- lead time
- long run
- average cost
- expected cost
- inventory policy
- optimal policy
- finite state
- optimal solution
- production planning
- sufficient conditions
- reinforcement learning
- total cost
- lost sales
- setup cost
- multistage
- infinite horizon
- decision making
- state dependent
- markov chain
- random variables
- inventory control
- probability distribution