Abstract
This paper presents a stochastic dynamic capacity expansion planning model, formulated using a Markov Decision Process (MDP). We characterize the optimal policy and prove the existence of a threshold-type structured policy. In particular, we provide a novel proof by demonstrating the subadditivity of the cost model, resulting in increased computational efficiency.
| Original language | English |
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| Title of host publication | 2024 IEEE International Conference on Technology Management, Operations and Decisions, ICTMOD 2024 |
| Publisher | Institute of Electrical and Electronics Engineers Inc. |
| ISBN (Electronic) | 9798350367355 |
| DOIs | |
| State | Published - 2024 |
| Event | 2024 IEEE International Conference on Technology Management, Operations and Decisions, ICTMOD 2024 - Sharjah, United Arab Emirates Duration: 4 Nov 2024 → 6 Nov 2024 |
Publication series
| Name | 2024 IEEE International Conference on Technology Management, Operations and Decisions, ICTMOD 2024 |
|---|
Conference
| Conference | 2024 IEEE International Conference on Technology Management, Operations and Decisions, ICTMOD 2024 |
|---|---|
| Country/Territory | United Arab Emirates |
| City | Sharjah |
| Period | 4/11/24 → 6/11/24 |
Bibliographical note
Publisher Copyright:© 2024 IEEE.
Keywords
- Capacity management
- Markov decision process (MDP)
- capacity planning
- threshold Policy
ASJC Scopus subject areas
- Management of Technology and Innovation
- Computer Networks and Communications
- Information Systems and Management
- Management Science and Operations Research
- Control and Optimization
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