Comment on “A Dynamic Programming Algorithm for Joint Replenishment Under General Order Cost Functions”
نویسندگان
چکیده
منابع مشابه
Optimal ordering quantities for substitutable deteriorating items under joint replenishment with cost of substitution
In this paper we develop an inventory model, to determine the optimal ordering quantities, for a set of two substitutable deteriorating items. In this inventory model the inventory level of both items depleted due to demands and deterioration and when an item is out of stock, its demands are partially fulfilled by the other item and all unsatisfied demand is lost. Each substituted item incurs a...
متن کاملThe Joint Replenishment Problem with General Joint Cost Structures
We consider inventory systems with several distinct items. Demands occur at constant, item specific rates. The items are interdependent because of jointly incurred fixed procurement costs: The joint cost structure reflects general economies of scale, merely assuming a monotonicity and concavity (submodularity) property. Under a power-of-two policy each item is replenished with constant reorder ...
متن کاملCost Allocation for Joint Replenishment Models
We consider the one-warehouse multiple retailer inventory model with a submodular joint setup cost function. The objective of this model is to determine an inventory replenishment policy that minimizes the long-run average system cost over an infinite time horizon. Although the optimal policy for this problem is still unknown, a class of easy-to-implement power-of-two policies are 98% effective...
متن کاملPresenting a Joint Replenishment-location Model Under all-units Quantity Discount and Solving by Genetic Algorithm and Harmony Search Algorithm
In this paper a model is proposed for distribution centers location and joint replenishment of a distribution system that is responsible for orders and product delivery to distribution centers. This distribution centers are under limitedwarehouse space and this can determine amount of requirement product by considering proposed discount.The proposed model is develop to minimize total costs cons...
متن کاملA genetic algorithm for joint replenishment based on the exact inventory cost
Given the order cycles of items in joint replenishment, no closed-form formula or efficient method is known to compute the exact inventory cost. Previous studies avoid the difficulty by restricting the replenishment policy to the cases where the order cycle of each item is a multiple of the cycle of the most frequently ordered item. This simplifies the computation but may entail sub-optimality ...
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ژورنال
عنوان ژورنال: Management Science
سال: 1987
ISSN: 0025-1909,1526-5501
DOI: 10.1287/mnsc.33.1.131