The Near-Myopic Nature of the Lagged-Proportional-Cost Inventory Problem with Lost Sales.
Thomas E. MortonPublished in: Oper. Res. (1971)
Keyphrases
- lost sales
- infinite horizon
- inventory models
- inventory systems
- optimal policy
- sample path
- periodic review
- expected cost
- lead time
- single stage
- inventory management
- holding cost
- inventory level
- finite horizon
- opportunity cost
- multi item
- inventory control
- stochastic demand
- stochastic lead times
- total cost
- single item
- setup cost
- demand distributions
- optimal control
- fixed cost
- long run
- single period
- inventory holding
- supply chain
- state space
- average cost
- base stock policies
- stochastic inventory
- single product
- markov decision processes
- order quantity
- lot sizing
- multistage
- ordering policy
- production planning