Technical note-optimal structural results for assemble-to-order generalized M-Systems
Date
2014
Authors
Nadar, E.
Akan, M.
Scheller-Wolf, A.
Editor(s)
Advisor
Supervisor
Co-Advisor
Co-Supervisor
Instructor
BUIR Usage Stats
3
views
views
17
downloads
downloads
Citation Stats
Series
Abstract
We consider an assemble-to-order generalized M-system with multiple components and multiple products, batch ordering of components, random lead times, and lost sales. We model the system as an infinite-horizon Markov decision process and seek an optimal policy that specifies when a batch of components should be produced (i.e., inventory replenishment) and whether an arriving demand for each product should be satisfied (i.e., inventory allocation). We characterize optimal inventory replenishment and allocation policies under a mild condition on component batch sizes via a new type of policy: lattice-dependent base stock and lattice-dependent rationing. © 2014 INFORMS.
Source Title
Operations Research
Publisher
INFORMS Inst.for Operations Res.and the Management Sciences
Course
Other identifiers
Book Title
Keywords
Assemble-to-order systems, Lattice-dependent policies, Markov decision processes, Optimal control, Flash memory, Learning algorithms, Markov processes, Allocation policies, Assemble-to-order, Infinite horizons, Inventory allocation, Inventory replenishment, Markov Decision Processes, Multiple components, Optimal controls, Structural optimization
Degree Discipline
Degree Level
Degree Name
Citation
Permalink
Published Version (Please cite this version)
Language
English