Optimal spot market inventory strategies in the presence of cost and price risk.
Xin GuoPhilip M. KaminskyPascal I. TomecekM. YuenPublished in: Math. Methods Oper. Res. (2011)
Keyphrases
- expected cost
- inventory policy
- optimal strategy
- total cost
- lot size
- holding cost
- expected profit
- fixed cost
- production cost
- setup cost
- infinite horizon
- long run
- pricing strategies
- dynamic programming
- asymptotically optimal
- production capacity
- lost sales
- finite horizon
- optimal solution
- lead time
- spot market
- periodic review
- inventory models
- production planning
- supply chain
- long term