Pricing, Production, and Inventory Policies for Manufacturing with Stochastic Demand and Discretionary Sales.
Lap Mui Ann ChanDavid Simchi-LeviJulie L. SwannPublished in: Manuf. Serv. Oper. Manag. (2006)
Keyphrases
- inventory policy
- stochastic demand
- infinite horizon
- production planning
- periodic review
- finite horizon
- optimal production
- inventory control
- dynamic pricing
- inventory models
- optimal policy
- long run
- production cost
- optimal control
- markov decision processes
- dynamic programming
- lost sales
- single item
- lead time
- customer service
- average cost
- raw material
- supply chain
- inventory level
- setup cost
- production process
- single product
- fixed cost
- supply chain management
- state space
- manufacturing systems
- production system
- mixed integer programming
- inventory systems
- service level
- initial state
- linear programming
- customer satisfaction