Enhanced lateral transshipments in a multi-location inventory system

Enhanced lateral transshipments in a multi-location inventory system

In managing an inventory network, two approaches to the pooling of stock have been proposed. Reactive transshipments respond to shortages at a location by moving inventory from elsewhere within the network, while proactive stock redistribution seeks to minimize the chance of future stockouts. This paper is the first to propose an enhanced reactive approach in which individual transshipments are...

A Location-Inventory Model with Lateral Transshipments

With Parallel Evolution towards the Optimal Order Policy of a Multi-Location Inventory with Lateral Transshipments

The problem to find an optimal control for a multi-location inventory model with lateral transshipments in general can not be solved in an analytical way. The main reason for having only a few results on multi-location models with lateral transshipments is the fact that the solution of such models is connected with a lot of analytical and numerical problems. In the case of non-linear cost funct...

Evolutionary Optimization of a Multi-location Inventory Model with Lateral Transshipments

Inventory models with lateral transshipments: A review

Lateral transshipments within an inventory system are stock movements between locations of the same echelon. These transshipments can be conducted periodically at predetermined points in time to proactively redistribute stock, or they can be used reactively as a method of meeting demand which cannot be satisfied from stock on hand. The elements of an inventory system considered, e.g. size, cost...