How to solve Dynamic Resource Allocation problems using RL
Learnings from solving a Blood Management problem
According to Wikipedia (2022), Resource allocation is a plan for using available resources (…), especially in the near term, to achieve goals for the future. Likewise, from an Operations Research perspective, Resource allocation problems involve the distribution of resources among competing alternatives to minimize costs or maximize rewards (Encyclopedia Britannica, 2022). The problems within these descriptions are characterized by three main components: 1) a set of limited resources; 2) a set of demands to be served, each consuming a specified amount of resources; and 3) a set of costs/returns for each demand and resource.
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