Optimal Control of a Brownian Production/Inventory System with Average Cost Criterion.
Jingchen WuXiuli ChaoPublished in: Math. Oper. Res. (2014)
Keyphrases
- optimal control
- average cost
- production inventory
- infinite horizon
- finite horizon
- single product
- dynamic programming
- risk sensitive
- inventory level
- production planning
- single item
- reinforcement learning
- stochastic demand
- base stock policy
- lost sales
- initial state
- markov decision process
- control strategy
- periodic review
- fixed cost
- inventory models
- setup cost
- inventory control
- holding cost
- decision making
- production rate
- machine learning
- optimal policy