Approximate dynamic programming for lateral transshipment problems in multi-location inventory systems
نویسندگان
چکیده
منابع مشابه
Approximate dynamic programming for lateral transshipment problems in multi-location inventory systems
Companies commonly allocate their inventories across multiple locations based on their historical sales rates. However, random fluctuations in customer purchases, such as those caused by weather conditions and other external factors, might cause significant deviations from expected demand, leading to excess stock in some locations and stockouts in others. To fix this mismatch, companies often t...
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We consider an inventory model for spare parts with two stockpoints, providing repairable parts for a critical component of advanced technical systems. As downtime costs for these systems are huge, ready-for-use spare parts are kept on stock, to be able to quickly respond to a breakdown of a system. We allow for lateral transshipments of parts between the stockpoints upon a demand arrival for a...
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In multi-location inventory systems, transshipments are often used to improve customer service and reduce cost. Determining optimal transshipment policies for such systems involves a complex optimisation problem that is only tractable for systems with few locations. Consequently simple heuristic transshipment policies are often applied in practice. This paper develops an approximate solution me...
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We consider centrally controlled multi-location systems, which coordinate their replenishment strategies through the use of transshipments. In a dynamic deterministic demand environment the problem is characterized by several locations, each of which has known demand for a single product for each period in a given finite horizon. We consider replenishment, transshipment and inventory holding co...
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ژورنال
عنوان ژورنال: European Journal of Operational Research
سال: 2018
ISSN: 0377-2217
DOI: 10.1016/j.ejor.2017.06.049