We consider the stochastic joint replenishment problem in which several items must be ordered in the face of stochastic demand. Previous authors proposed multiple heuristic policies for this economically-important problem. We show that several such policies are not good approximations to an optimal policy, since as some items grow more expensive than others, the cost rate of the heuristic polic...

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...

This study is an extension of the Joint Replenishment Problem (JRP) that takes into accounts warehouse-space restrictions. The focus of this study is to determine the lot size of each product under power-of-two policy to minimize the total cost per unit time and to generate a feasible replenishment schedule of multiple products without exceeding the available warehouse-space. In order to solve ...

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...

We study an inventory system that supplies price-sensitive demand modeled by Brownian motion, focusing on the optimal pricing and inventory replenishment decisions, under both long-run average and discounted objectives. Analytical solutions are obtained in all cases, and related to or contrasted against previously known results. In addition, we bring out the interplay between the pricing and th...

A disaster inventory system is considered in which two substitutable items are stored for disaster management. In the event of disaster management, a particular product may become stock-out and the situation warrants that a demand for the particular product during its stock-out period may be substituted with another available similar product in the inventory. From the utility point of view, con...

The joint replenishment of inventory problem (JRP) requires independence of minor ordering costs. In this paper we propose an evolutionary algorithm (EA) for a modification of the JRP. The modified JRP allows for interdependence of minor ordering costs. Our proposed EA (EARP) is a nested EA that searches for a solution to minimize the total cost of inventory replenishment. It combines an EA whi...