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I want to develop inventory models that can handle both in-plant and purchased inventories using just-in-time concepts.
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I want to develop a stochastic optimization model that handles inventories of a just-in-time setting.
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I want to develop a Markov decision process Model where risk is factor in model formulation.
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Knowing the structure will assist me to model situations where risk is a major factor
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How is the structure of the Markov chain and the reward function?
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Inventory control poses a challenge for petrol stations when demand for petroleum products fluctuates from time to time.
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Demand of certain products in supermarkets is uncertain; an inventory model is sought in order to optimize stock levels and costs of such items
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