Optimal Backlogging Over an Infinite Horizon Under Time-Varying Convex Production and Inventory Costs.
Archis GhateRobert L. SmithPublished in: Manuf. Serv. Oper. Manag. (2009)
Keyphrases
- lot size
- infinite horizon
- inventory costs
- finite horizon
- single item
- production planning
- production cost
- lead time
- optimal control
- production capacity
- lot sizing
- dynamic programming
- optimal policy
- inventory policy
- long run
- periodic review
- holding cost
- stochastic demand
- total cost
- fixed cost
- production process
- setup cost
- markov decision processes
- markov decision process
- raw material
- average cost
- multistage
- lost sales
- inventory systems
- supply chain
- inventory control
- mixed integer programming
- production rate
- expected cost
- production system
- service level