Optimal replenishment and ordering policy for time dependent demand and deterioration with discounted cash flow analysis.
Anand ChauhanAnubhav Pratap SinghPublished in: Int. J. Math. Oper. Res. (2014)
Keyphrases
- ordering policy
- flow analysis
- finite horizon
- order quantity
- infinite horizon
- stochastic demand
- lost sales
- single product
- optimal policy
- planning horizon
- lead time
- inventory replenishment
- single item
- inventory control
- batch size
- markov decision processes
- total cost
- fixed cost
- supply chain
- service level
- inventory systems
- average cost
- information flow
- holding cost
- dynamic programming
- long run
- optimal control
- standard deviation
- inventory management
- multistage
- production planning
- lot size
- single stage
- markov decision process
- state space
- optimal solution
- expected cost
- lot sizing
- decision problems
- dynamic pricing
- setup cost
- inventory level
- customer demand
- cost function
- state dependent
- social networks
- finite state
- base stock policies
- replenishment policy