Technical Note - Optimal Dynamic Joint Inventory-Pricing Control for Multiplicative Demand with Fixed Order Costs and Lost Sales.
Yuyue SongSaibal RayTamer BoyaciPublished in: Oper. Res. (2009)
Keyphrases
- lost sales
- periodic review
- setup cost
- fixed order
- inventory systems
- base stock policies
- inventory control
- inventory models
- inventory replenishment
- lead time
- holding cost
- single product
- stochastic demand
- single stage
- sample path
- optimal policy
- inventory management
- multi item
- raw material
- expected cost
- inventory holding
- inventory level
- lot sizing
- production cost
- infinite horizon
- single item
- total cost
- inventory policy
- finite horizon
- asymptotically optimal
- base stock policy
- single period
- production inventory
- pricing strategies
- production planning
- optimal control
- long run
- order quantity
- stochastic inventory
- demand distributions
- stochastic lead times
- lot size
- ordering policy
- state dependent
- average cost
- dynamic programming
- multistage
- fixed cost