Single-Stage Approximations for Optimal Policies in Serial Inventory Systems with Nonstationary Demand.
Kevin H. ShangPublished in: Manuf. Serv. Oper. Manag. (2012)
Keyphrases
- serial inventory systems
- non stationary
- single stage
- inventory systems
- lost sales
- optimal policy
- multistage
- periodic review
- sample path
- lead time
- base stock policies
- finite horizon
- inventory level
- stochastic optimization
- setup cost
- dynamic programming
- transportation problem
- inventory control
- production system
- decision problems
- customer demand
- infinite horizon
- average cost
- max min
- lot sizing
- expected cost
- random fields
- finite state
- single item
- state dependent
- order quantity
- cost function
- markov decision process
- markov decision processes
- initial state