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Inventory Control for a Joint Replenishment Problem with Stochastic Demand

Bassem Roushdy; Nahed Sobhy; Abdelrhim Abdelhamid; Ahmed Mahmoud

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  <identifier identifierType="DOI">10.5281/zenodo.1083931</identifier>
      <creatorName>Bassem Roushdy</creatorName>
      <creatorName>Nahed Sobhy</creatorName>
      <creatorName>Abdelrhim Abdelhamid</creatorName>
      <creatorName>Ahmed Mahmoud</creatorName>
    <title>Inventory Control for a Joint Replenishment Problem with Stochastic Demand</title>
    <subject>Inventory management</subject>
    <subject>Joint replenishment</subject>
    <subject>policy evaluation</subject>
    <subject>stochastic process</subject>
    <date dateType="Issued">2011-04-28</date>
  <resourceType resourceTypeGeneral="Text">Journal article</resourceType>
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    <relatedIdentifier relatedIdentifierType="DOI" relationType="IsVersionOf">10.5281/zenodo.1083930</relatedIdentifier>
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    <rights rightsURI="">Creative Commons Attribution 4.0 International</rights>
    <rights rightsURI="info:eu-repo/semantics/openAccess">Open Access</rights>
    <description descriptionType="Abstract">Most papers model Joint Replenishment Problem
(JRP) as a (kT,S) where kT is a multiple value for a common review
period T,and S is a predefined order up to level. In general the (T,S)
policy is characterized by a long out of control period which requires
a large amount of safety stock compared to the (R,Q) policy. In this
paper a probabilistic model is built where an item, call it item(i),
with the shortest order time between interval (T)is modeled under
(R,Q) policy and its inventory is continuously reviewed, while the
rest of items (j) are periodically reviewed at a definite time
corresponding to item</description>
    <description descriptionType="Other">{"references": ["Atkins, D., Iyogun, P., 1988. Periodic versus can order policies for\ncoordinated multi-item inventory system. Management Science 34 (6),\n791-796.", "Axsater, S., 2004.Inetory Control, Kluwer Academic Publisher Group.", "Eryan, A., Kropp, D.H., 2007. Effective and simple EOQ-like solutions\nfor stochastic demand periodic review systems. Eur. J. Oper. Res. 180,\n1135-1143.", "Eryan, A., Kropp, D.H., 1998. Periodic review and joint replenishment\nin stochastic demand environment.IIE Transactions 30, 1025-1033.", "Fung, R., MA, X., 2001.Anew method for joint replenishment problems.\nJournal of Operational Research Society52, 358-362.", "Forsberg, R., 1995. Optimization of order-up-to S policies for two-level\ninventory systems with compound Poisson demand. European Journal of\nOperational Research 81.", "Goyal, S.K., 1973. Determination of economic packaging frequency for\nitems jointly replenished. Management Science 20 (2), 232.", "Goyal, S.K., 1974. Determination of optimum packaging frequency of\nitems jointly replenished. Management Science 21 (4), 436-443.", "Hariga, M., 1994. Two new heuristic procedures for the joint\nreplenishment problem, Journal of the Operational Research Society 45\n463-471.\n[10] Johansen, S.G., Melchior P., 2003. Can-order policy for the periodicreview\njoint replenishment problem, Journal of the Operational Research\nSociety 54 283-290.\n[11] Larsen,C., 2008.The Q(s,S) control policy for the joint replenishment\nproblem extended to the case of correlation among item-demand.\nJournal of Production Economics,doi:10.1016/j.ijpe.2008.08.025\n[12] Olsen, A.L., 2005. An evolutionary algorithm to solve the joint\nreplenishment problem using direct grouping. Computers and Industrial\nEngineering 48 (2), 223-235.\n[13] Pantumsinchai, P., 1992. A comparison of three joint ordering inventory\npolicies. Decision Science 23, 111-127.\n[14] Porras E. and Dekker R. 2005. An efficient optimal solution method for\nthe joint replenishment problem with minimum order quantities.\nEuropean Journal of Operational Research (forthcoming)\n[15] Silver, E.A., 1976. A simple method of determining order quantities in\njoint replenishments under deterministic demand. Management Science\n22 (12), 1351-1361.\n[16] Van Eijs, M.J.G., 1993. A note on the joint replenishment problem under\nconstant demand. Journal of Operational Research Society 44 (2), 185-\n191.\n[17] Viswanathan, S., 1996. A new optimal algorithm for the joint\nreplenishment problem. Journal of Operational Research Society 47 (7),\n936-944.\n[18] Viswanathan, S., 2002. On optimal algorithms for the joint\nreplenishment problem. Journal of Operational Research Society 53\n(11), 1286-1290.\n[19] Wildeman, R.E, Frenk, J.B.G., Dekker, R., 1997. An efficient optimal\nsolution for the joint replenishment problem. European Journal of\nOperational Research 99, 433-444.\n[20] Zheng, Y.S., Federgruen, A., 1991. Finding optimal s\u2518\u00ef; S \u2518\u00e9policies is\nabout as simple as evaluating a single policy. Operations Research 39\n(4), 654-665.\n[21] Zipkin, P., 2000. Foundations of Inventory Management. McGraw-Hill."]}</description>
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