Technical Note-A Simple Heuristic Policy for Stochastic Distribution Inventory Systems with Fixed Shipment Costs.
Han ZhuYouhua (Frank) ChenMing HuYi YangPublished in: Oper. Res. (2021)
Keyphrases
- periodic review
- inventory systems
- lost sales
- inventory management
- single stage
- optimal policy
- multi item
- lead time
- expected cost
- total cost
- single product
- infinite horizon
- inventory models
- inventory level
- lot sizing
- inventory control
- stochastic demand
- single item
- setup cost
- finite horizon
- multistage
- random variables
- customer demand
- base stock policy
- cost function
- holding cost
- probability distribution
- state dependent
- stochastic optimization
- average cost
- order quantity
- long run
- decision problems
- markov decision process
- dynamic programming
- objective function