Multilevel rationing policy for spare parts when demand is state dependent.
Pedram SahbaBaris BalciogluDragan BanjevicPublished in: OR Spectr. (2018)
Keyphrases
- state dependent
- spare parts
- inventory management
- optimal policy
- lost sales
- optimal production
- steady state
- inventory level
- supply chain
- optimization model
- customer demand
- inventory systems
- markov chain
- arrival rate
- asymptotically optimal
- stationary distribution
- periodic review
- service level
- high availability
- state space
- vehicle routing
- single server
- queueing networks
- finite state
- finite horizon
- setup cost
- stochastic demand
- multistage
- single stage
- inventory control
- dynamic programming
- reinforcement learning
- markov decision process
- sufficient conditions
- total cost
- queue length
- holding cost
- infinite horizon
- average cost
- production rate
- single product
- robust optimization
- search space