Volume : II, Issue : XII, December - 2013

Markov Decision Process in Supply Chain Inventory Systems

S. Priscilla Jane, Dr. C. Elango, Dr. A. Nagarajan

Abstract :

In this article we have considered a two-echelon inventory control in a supply chain having one ware-house and multiple retailers. Batch reordering is assumed at each node with variable ordering quantity depending on state of the inventory level at the time of review(periodic review), that is an ordering upto S policy is adopted. By imposing proper cost structure, an optimal policy parameter, reorder level for the inventory control is found by policy iteration procedure. Numerical examples are provided to illustrate the model.

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Article: Download PDF   DOI : 10.36106/ijsr  

Cite This Article:

S.Priscilla Jane, Dr.C.Elango, Dr.A.Nagarajan Markov Decision Process in Supply Chain Inventory Systems International Journal of Scientific Research, Vol.II, Issue.XII December 2013

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