Optimal strategy for a periodic review inventory system with discounted variable cost and finite ordering capacity.
Chenbo ZhuBaimei YangHongwei MaChunyan GaoJiahao ChenPublished in: RAIRO Oper. Res. (2022)
Keyphrases
- periodic review inventory
- optimal strategy
- optimal policy
- decision problems
- fixed cost
- ordering cost
- infinite horizon
- finite horizon
- expected cost
- markov decision processes
- lead time
- state space
- average cost
- long run
- reinforcement learning
- inventory control
- dynamic programming
- total cost
- inventory policy
- markov decision process
- single product
- monte carlo
- optimal control
- lot sizing
- inventory models
- single item
- state dependent
- multistage
- stochastic demand
- mixed integer programming
- finite state
- finite number
- inventory level
- periodic review
- holding cost
- supply chain
- asymptotically optimal
- production planning
- lot size
- inventory systems
- sufficient conditions