Integrated inventory and production policy for manufacturing with perishable raw materials.
Chaoming HuMin KongJun PeiXinbao LiuPanos M. PardalosPublished in: Ann. Math. Artif. Intell. (2021)
Keyphrases
- raw material
- optimal production
- lost sales
- optimal policy
- inventory systems
- ordering policy
- lead time
- infinite horizon
- inventory management
- lot size
- stochastic demand
- finite horizon
- single stage
- periodic review
- total cost
- inventory control
- inventory level
- manufacturing systems
- dynamic pricing
- state space
- markov decision processes
- reinforcement learning
- markov decision process
- expected cost
- single item
- multi item
- decision problems
- order quantity
- inventory replenishment
- decision making
- steady state
- graphical models
- production planning
- finite state
- objective function
- long run