Repairable Stocking and Expediting in a Fluctuating Demand Environment: Optimal Policy and Heuristics.
Joachim J. ArtsRob J. I. BastenGeert-Jan van HoutumPublished in: Oper. Res. (2016)
Keyphrases
- optimal policy
- lost sales
- inventory level
- single period
- stochastic demand
- inventory models
- inventory systems
- state dependent
- sample path
- finite horizon
- infinite horizon
- markov decision processes
- optimal production
- periodic review
- inventory management
- reinforcement learning
- single stage
- expected cost
- decision problems
- long run
- dynamic programming algorithms
- dynamic programming
- lead time
- optimal pricing
- base stock policies
- state space
- total cost
- inventory control
- customer demand
- average reward
- order quantity
- inventory policy
- control policies
- production system
- multistage
- sufficient conditions
- bayesian reinforcement learning
- planning horizon
- markov decision process
- steady state
- cost function
- raw material
- asymptotically optimal
- demand distributions
- supply chain