A Note on the Joint Replenishment Problem under Constant Demand

A Note on the Joint Replenishment Problem under Constant Demand

This note considers the joint replenishment inventory problem for N items under constant demand. The frequently-used cyclic strategy (T; k 1 , ..., k N ) is investigated: a family replenishment is made every T time units and item i is included in each k i th replenishment. Goyal proposed a solution...

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Veröffentlicht in:The Journal of the Operational Research Society 1993-02, Vol.44 (2), p.185-191
1. Verfasser: van Eijs, M. J. G.
Format: Artikel
Sprache:eng
Schlagworte:
Algorithms
Applied sciences
Average cost
Business and Management
Cost control
Cost efficiency
Economic costs
Exact sciences and technology
Integers
Inventories
Inventory
Inventory control, production control. Distribution
Inventory management
Joint Replenishment
Management
Mathematical models
Minimization of cost
Modifications
Operational research and scientific management
Operational research. Management science
Operations research
Operations Research/Decision Theory
Optimal solutions
Optimal strategies
Suggestions
Technical Note
Technical Notes
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Beschreibung
Zusammenfassung:This note considers the joint replenishment inventory problem for N items under constant demand. The frequently-used cyclic strategy (T; k 1 , ..., k N ) is investigated: a family replenishment is made every T time units and item i is included in each k i th replenishment. Goyal proposed a solution to find the global optimum within the class of cyclic strategies. However, we will show that the algorithm of Goyal does not always lead to the optimal cyclic strategy. A simple correction is suggested.
ISSN:0160-5682
1476-9360
DOI:10.1057/jors.1993.31