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Optimal (R, nQ) Policies for Serial Inventory Systems with Guaranteed Service

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Abstract

In this paper, serial inventory systems with Poisson external demand and fixed costs at each stock are considered and the guaranteed-service approach (GSA) is used to design their optimal echelon (R, nQ) inventory policies. The problem is decomposed into two independent sub-problems, batch size decision sub-problem and reorder point decision sub-problem, which are solved optimally by using a dynamic programming algorithm and a branch and bound algorithm, respectively. Numerical experiments on randomly generated instances demonstrate the efficiency of these algorithms.
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hal-02500610 , version 1 (06-03-2020)

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Peng Li, Haoxun Chen. Optimal (R, nQ) Policies for Serial Inventory Systems with Guaranteed Service. Operations Research Proceedings 2011, pp.439-444, 2012, Operations Research Proceedings (GOR (Gesellschaft für Operations Research e.V.)), ⟨10.1007/978-3-642-29210-1_70⟩. ⟨hal-02500610⟩

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