On Optimal Policies for Production-Inventory Systems with Compound Poisson Demand and Setup Costs.
Nicky D. van ForeestJacob WijngaardPublished in: Math. Oper. Res. (2014)
Keyphrases
- setup cost
- inventory systems
- lead time
- lost sales
- optimal policy
- single stage
- infinite horizon
- multi item
- lot size
- inventory models
- periodic review
- lot sizing
- inventory level
- production cost
- inventory control
- production planning
- supply chain
- holding cost
- service level
- stochastic demand
- markov decision processes
- state dependent
- order quantity
- finite horizon
- single item
- single product
- multistage
- long run
- state space
- random variables
- decision problems
- total cost
- base stock policy
- planning horizon
- asymptotically optimal
- dynamic programming
- reinforcement learning
- average cost
- finite state
- sufficient conditions
- supply chain management
- integer programming
- production system
- utility function
- random walk
- machine learning