Optimal auctions for transportation service procurement in an infinite horizon inventory system.
Su Xiu XuShuyan LiMengdi ZhangGeorge Q. HuangPublished in: ICNSC (2014)
Keyphrases
- infinite horizon
- finite horizon
- stochastic demand
- optimal control
- single item
- periodic review
- dynamic programming
- inventory policy
- holding cost
- production capacity
- average cost
- long run
- lead time
- fixed cost
- optimal policy
- production planning
- single product
- optimal production
- multi attribute
- markov decision processes
- heavy traffic
- budget constraints
- inventory control
- expected cost
- lost sales
- lot size
- ordering cost
- inventory systems
- markov decision process
- inventory level
- production inventory
- control strategy
- decision making
- single stage
- customer service
- reverse auction
- state dependent
- total cost
- single server
- demand distributions
- machine learning
- inventory models
- auction mechanisms
- production cost
- asymptotically optimal
- lot sizing
- production system
- state space
- optimal solution
- reinforcement learning