Optimal production, pricing, and substitution policies in continuous review production-inventory systems.
Yimin YuBiying ShouYaodong NiLi ChenPublished in: Eur. J. Oper. Res. (2017)
Keyphrases
- optimal production
- inventory systems
- periodic review
- single product
- inventory policy
- multi item
- lead time
- inventory level
- lost sales
- planning horizon
- optimal policy
- lot sizing
- single stage
- production process
- infinite horizon
- expected cost
- production rate
- inventory management
- finite horizon
- production system
- raw material
- single item
- multistage
- production cost
- stochastic demand
- total cost
- dynamic pricing
- inventory models
- state dependent
- inventory control
- service level
- supply chain
- production planning
- markov decision processes
- long run
- decision problems
- dynamic programming
- setup cost
- reinforcement learning
- average cost
- manufacturing systems
- state space