Enhanced lateral transshipments in a multi-location inventory system

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

A Semi-Markov decision problem for proactive and reactive transshipments between multiple warehouses

Lateral transshipments are an effective strategy to pool inventories. We present an exact Semi-Markov decision problem formulation for proactive and reactive transshipments in a multi-location continuous review distribution inventory system with Poisson demand and exponential replenishment lead times. In a numerical study, we investigate the benefits of proactive over different reactive transsh...

Multi-item spare parts systems with lateral transshipments and waiting time constraints

This paper deals with the analysis of a multi-item, continuous review model of two-location inventory systems for repairable spare parts in which lateral and emergency shipments occur in response to stockouts. A continuous review basestock policy is assumed for the inventory control of the spare parts. The objective is to minimize the total costs for inventory holding, lateral transshipments an...

Multiobjective Analysis of the Multi-Location Newsvendor and Transshipment Models

Unlike the Newsvendor model, a system based on lateral transshipments allows the unsold inventories to be moved from locations with surplus inventory to fulfill more unmet demands at stocked out locations. Both models were thoroughly studied and researches were usually confined to cost minimization or profit maximization. In this paper, we proposed a more realistic multiobjective study of both ...