1 research outputs found
Stochastic joint replenishment problems: periodic review policies
Operations Managers of manufacturing systems, distribution systems, and supply
chains address lot sizing and scheduling problems as part of their duties.
These problems are concerned with decisions related to the size of orders and
their schedule. In general, products share or compete for common resources and
thus require coordination of their replenishment decisions whether replenishment
involves manufacturing operations or not.
This research is concerned with joint replenishment problems (JRPs) which are
part of multi-item lot sizing and scheduling problems in manufacturing and distribution
systems in single echelon/stage systems.
The principal purpose of this research is to develop three new periodic review
policies for stochastic joint replenishment problem. It also highlights the lack of
research on joint replenishment problems with different demand classes (DSJRP).
Therefore, periodic review policy is developed for this problem where the inventory
system faces different demand classes that are deterministic demand and
stochastic demand. Heuristic Algorithms have been developed to obtain (near)
optimal parameters for the three policies as well as a heuristic algorithm has been
developed for DSJRP. Numerical tests against literature benchmarks have been
presented