Improving production policy for a deteriorating item under permissible delay in payments with stock-dependent demand rate.
Debasis DasArindam RoySamarjit KarPublished in: Comput. Math. Appl. (2010)
Keyphrases
- optimal production
- inventory level
- finished goods inventory
- inventory policy
- long run
- planning horizon
- expected cost
- production process
- customer demand
- lead time
- setup cost
- inventory management
- optimal policy
- production inventory
- production system
- production rate
- base stock levels
- total cost
- stochastic demand
- state dependent
- infinite horizon
- production cost
- inventory holding costs
- supply chain
- holding cost
- production planning
- inventory control
- transmission rate
- spare parts
- lost sales
- base stock policy
- single product
- manufacturing systems
- inventory systems
- multi item
- failure rate
- raw material
- fluid model
- inventory models
- single stage
- dynamic pricing
- base stock policies
- capacity expansion
- periodic review
- lot size
- service level
- state space
- dynamic programming
- reinforcement learning
- echelon stock
- inventory costs
- revenue management
- fixed cost
- finite horizon
- multistage