Commenced in January 2007
Paper Count: 30848
Inventory Control for a Joint Replenishment Problem with Stochastic Demand
Abstract:Most papers model Joint Replenishment Problem (JRP) as a (kT,S) where kT is a multiple value for a common review period T,and S is a predefined order up to level. In general the (T,S) policy is characterized by a long out of control period which requires a large amount of safety stock compared to the (R,Q) policy. In this paper a probabilistic model is built where an item, call it item(i), with the shortest order time between interval (T)is modeled under (R,Q) policy and its inventory is continuously reviewed, while the rest of items (j) are periodically reviewed at a definite time corresponding to item
Digital Object Identifier (DOI): doi.org/10.5281/zenodo.1335222Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2560
 Atkins, D., Iyogun, P., 1988. Periodic versus can order policies for coordinated multi-item inventory system. Management Science 34 (6), 791-796.
 Axsater, S., 2004.Inetory Control, Kluwer Academic Publisher Group.
 Eryan, A., Kropp, D.H., 2007. Effective and simple EOQ-like solutions for stochastic demand periodic review systems. Eur. J. Oper. Res. 180, 1135-1143.
 Eryan, A., Kropp, D.H., 1998. Periodic review and joint replenishment in stochastic demand environment.IIE Transactions 30, 1025-1033.
 Fung, R., MA, X., 2001.Anew method for joint replenishment problems. Journal of Operational Research Society52, 358-362.
 Forsberg, R., 1995. Optimization of order-up-to S policies for two-level inventory systems with compound Poisson demand. European Journal of Operational Research 81.
 Goyal, S.K., 1973. Determination of economic packaging frequency for items jointly replenished. Management Science 20 (2), 232.
 Goyal, S.K., 1974. Determination of optimum packaging frequency of items jointly replenished. Management Science 21 (4), 436-443.
 Hariga, M., 1994. Two new heuristic procedures for the joint replenishment problem, Journal of the Operational Research Society 45 463-471.
 Johansen, S.G., Melchior P., 2003. Can-order policy for the periodicreview joint replenishment problem, Journal of the Operational Research Society 54 283-290.
 Larsen,C., 2008.The Q(s,S) control policy for the joint replenishment problem extended to the case of correlation among item-demand. Journal of Production Economics,doi:10.1016/j.ijpe.2008.08.025
 Olsen, A.L., 2005. An evolutionary algorithm to solve the joint replenishment problem using direct grouping. Computers and Industrial Engineering 48 (2), 223-235.
 Pantumsinchai, P., 1992. A comparison of three joint ordering inventory policies. Decision Science 23, 111-127.
 Porras E. and Dekker R. 2005. An efficient optimal solution method for the joint replenishment problem with minimum order quantities. European Journal of Operational Research (forthcoming)
 Silver, E.A., 1976. A simple method of determining order quantities in joint replenishments under deterministic demand. Management Science 22 (12), 1351-1361.
 Van Eijs, M.J.G., 1993. A note on the joint replenishment problem under constant demand. Journal of Operational Research Society 44 (2), 185- 191.
 Viswanathan, S., 1996. A new optimal algorithm for the joint replenishment problem. Journal of Operational Research Society 47 (7), 936-944.
 Viswanathan, S., 2002. On optimal algorithms for the joint replenishment problem. Journal of Operational Research Society 53 (11), 1286-1290.
 Wildeman, R.E, Frenk, J.B.G., Dekker, R., 1997. An efficient optimal solution for the joint replenishment problem. European Journal of Operational Research 99, 433-444.
 Zheng, Y.S., Federgruen, A., 1991. Finding optimal s┘ï; S ┘épolicies is about as simple as evaluating a single policy. Operations Research 39 (4), 654-665.
 Zipkin, P., 2000. Foundations of Inventory Management. McGraw-Hill.