An Optimal Policy with Three-Parameter Weibull Distribution Deterioration, Quadratic Demand, and Salvage Value Under Partial Backlogging.
Trailokyanath SinghHadibandhu PattanayakAmeeya Kumar NayakNirakar Niranjan SethyPublished in: Int. J. Rough Sets Data Anal. (2018)
Keyphrases
- lost sales
- optimal policy
- infinite horizon
- weibull distribution
- periodic review
- single item
- inventory systems
- finite horizon
- inventory models
- stochastic demand
- lot size
- markov decision processes
- inventory control
- inventory management
- dynamic programming
- lead time
- state space
- long run
- single stage
- inventory level
- holding cost
- reinforcement learning
- production planning
- markov decision process
- multistage
- demand distributions
- base stock policies
- state dependent
- probability density function
- optimal control
- multi item
- pairwise
- sufficient conditions
- order quantity
- lot sizing
- average cost
- objective function
- single product
- ordering cost
- setup cost
- inventory policy
- maximum likelihood
- machine learning
- raw material
- asymptotically optimal
- fixed cost