Intelligent Inventory Control via Ruminative Reinforcement Learning

Tatpong Katanyukul and Edwin K. P. Chong

Journal of Applied Mathematics, 2014, vol. 2014, issue 1

Abstract: Inventory management is a sequential decision problem that can be solved with reinforcement learning (RL). Although RL in its conventional form does not require domain knowledge, exploiting such knowledge of problem structure, usually available in inventory management, can be beneficial to improving the learning quality and speed of RL. Ruminative reinforcement learning (RRL) has been introduced recently based on this approach. RRL is motivated by how humans contemplate the consequences of their actions in trying to learn how to make a better decision. This study further investigates the issues of RRL and proposes new RRL methods applied to inventory management. Our investigation provides insight into different RRL characteristics, and our experimental results show the viability of the new methods.

Date: 2014
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https://doi.org/10.1155/2014/238357

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Persistent link: https://EconPapers.repec.org/RePEc:wly:jnljam:v:2014:y:2014:i:1:n:238357

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