Optimization of (R, Q) policies for serial inventory systems using the guaranteed service approach

Computers and Industrial Engineering

Volumn 80, Issue , 2015, Pages 261-273

  Chen, Haoxun ^a   Li, Peng ^b  

^a UNIVERSITÉ DE TECHNOLOGIE DE TROYES   (France)

^b XI'AN UNIVERSITY OF TECHNOLOGY   (China)

Author keywords

(R Q) policy; Dynamic programming; Guaranteed service approach; Inventory management; Multi echelon inventory systems

Indexed keywords

COSTS; INVENTORY CONTROL; ITERATIVE METHODS; MATHEMATICAL PROGRAMMING; OPTIMIZATION;

DYNAMIC PROGRAMMING ALGORITHM; FIXED ORDERING COSTS; GUARANTEED SERVICE; INVENTORY MANAGEMENT; MATHEMATICAL PROGRAMMING MODELS; MULTI-ECHELON INVENTORY; OPERATING FLEXIBILITY; OPTIMIZATION PROBLEMS;

DYNAMIC PROGRAMMING;

EID: 84920380473     PISSN: 03608352     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.cie.2014.12.003     Document Type: Article

References (42)

1. S. Axsäter Supply chain operations: Serial and distribution inventory systems S.C. Graves, T. de Kok, Supply chain management: Design, coordination and operation, handbooks in operations research and management science Vol. 11 2003 Springer Amsterdam 525 559
2. S. Axsäter, and K. Rosling Installation vs. echelon stock policies for multilevel inventory control Management Science 39 1993 1274 1280
3. J. Bossert, and S. Willems A periodic-review modeling approach for guaranteed service supply chains Interfaces 37 2007 420 435
4. F. Chen Optimal policies for multi-echelon inventory problems with batch ordering Operations Research 48 2000 376 389
5. F. Chen, and Y.-S. Zheng Evaluating echelon stock (R, nQ) policies in serial production/inventory systems with stochastic demand Management Science 40 1994 1262 1275
6. F. Chen, and Y.-S. Zheng Near-optimal echelon-stock (R, nQ) policies in multistage serial system Operations Research 46 1998 592 602
7. A. Clark, and H. Scarf Optimal policies for a multi-echelon inventory problem Management Science 6 1960 475 490
8. W.B. Crowston, and M.H. Wagner Economic lot size determination in multi-stage assembly systems Management Science 19 1973 517 526
9. M. De Bodt, and S. Graves Continuous review policies for a multi-echelon inventory problem with stochastic demand Management Science 31 1985 1286 1295
10. M.K. Dogru, G.J. Van Houturm, and A.G. De Kok Newsvendor equations for optimal reorder levels of serial inventory systems with fixed batch sizes Operations Research Letters 36 2008 551 556
11. C.H. Glock The joint economic lot size problem: A review International Journal of Production Economics 135 2012 671 686
12. C.H. Glock, E.H. Grosse, and J.M. Ries The lot sizing problem: A tertiary study International Journal of Production Economics 155 2014 39 51
13. S.K. Goyal, and A.T. Satir Joint replenishment inventory control: Deterministic and stochastic models European Journal of Operational Research 38 1989 2 13
14. S. Graves, D.B. Kletter, and W.B. Hetzel A dynamic model for requirements planning with application to supply chain optimization Operations Research 46 1988 S35 S49
15. S. Graves, and S. Willems Optimizing strategic safety stock placement in supply chain Manufacturing and Service Operations Management 2 2000 68 83
16. S. Graves, and S. Willems Optimizing the supply chain configuration for new products Management Science 51 2005 1165 1172
17. S. Graves, and S. Willems Strategic inventory placement in supply chains: Nonstationary demand Manufacturing Service Operations Management 10 2008 278 287
18. G. Hadley, and T.M. Whitin A family of inventory model Management Science 7 1961 351 371
19. E. Huggins, and T. Olsen Supply chain management with guaranteed delivery Management Science 49 2003 1154 1167
20. S. Humair, J. Ruark, B. Tomlin, and S. Willems Incorporating stochastic lead times into the guaranteed service model of safety stock optimization Interfaces 43 2013 421 434
21. S. Humair, and S. Willems Optimizing strategic safety stock placement in supply chains with clusters of commonality Operations Research 54 2006 725 742
22. S. Humair, and S. Willems Optimizing strategic safety stock placement in general acyclic networks Operations Research 59 2011 781 787
23. J. Jung, G. Blau, J. Pekny, G. Reklaitis, and D. Eversdyk Integrated safety stock management for multi-stage supply chains under production capacity constraints Computers Chemical Engineering 32 2008 2570 2581
24. G.E. Kimball General principles of inventory control Journal of Manufacturing and Operations Management 1 1988 119 130
25. S. Klosterhalfen, D. Dittmar, and S. Minner An integrated guaranteed- and stochastic-service approach to inventory optimization in supply chains European Journal of Operational Research 231 2013 109 119
26. S. Klosterhalfen, and S. Minner Safety stock optimisation in distribution systems: A comparison of two competing approaches International Journal of Logistics Research and Applications 13 2010 99 120
27. P. Li, H. Chen, and A. Che Optimal batch ordering policies for assembly systems with guaranteed service International Journal of Production Research 51 2013 6275 6293
28. P. Li, and H. Chen Optimal (R, nQ), policies for serial inventory systems with guaranteed service D. Klatte, H.-J. Lüthi, K. Schmedders, Operations research proceedings 2011 2012 Springer-Verlag Berlin, Heidelberg 439 444
29. T. Magnanti, Z. Shen, J. Shu, D. Simchi-Levi, and C. Teo Inventory placement in acyclic supply chain network Operations Research Letters 36 2006 228 238
30. S. Minner Strategic safety stock in reverse logistics supply chains International Journal of Production Economics 71 2001 417 428
31. H.E. Romeijn, J. Shu, and C.-P. Teo Designing two-echelon supply networks European Journal of Operational Research 178 2 2007 449 462
32. K. Rosling Optimal inventory policies for assembly systems under random demands Operations Research 37 1989 565 579
33. T. Schoenmeyr, and S. Graves Strategic safety stock in supply chains with evolving forecasts Manufacturing Service Operations Management 11 2009 657 673
34. K. Shang Note: A simple heuristic for serial inventory systems with fixed order costs Operations Research 56 2008 1039 1043
35. K. Shang, and J.S. Song Serial supply chains with economies of scale: Bounds and approximations Operations Research 55 2007 843 853
36. N.Y. Shenas, A.E. Jahromi, and M.M. Yazdi An efficient procedure for computing an optimal (R, Q) policy in continuous review systems with poisson demands and constant lead time SCIENTIA IRANICA, Transaction E: Industrial Engineering 16 2009 128 137
37. J. Shu, and I.A. Karimi Efficient heuristics for inventory placement in acyclic networks Computers and Operations Research 36 2009 2899 2904
38. J. Shu, C.-P. Teo, and Z.J.M. Shen Stochastic transportation-inventory network design problem Operations Research 53 2005 48 60
39. D. Simchi-Levi, and Y. Zhao Three generic methods for evaluating stochastic multi-echelon inventory systems Advances in Operations Research, 1 2012 Hindawi Publishing Corporation
40. K.F. Simpson In-process inventories Operations Research 6 1958 863 873
41. G.J. Van Houtum Multi-echelon production/inventory systems: Optimal policies, heuristics, and algorithms Tutorials in Operations Research 2006 2006 Hanover MD, USA 163 199
42. L. Yang, J. Yang, G. Yu, and H. Zhang Near-optimal (r, Q) policies for a two-stage serial inventory system with Poisson demand International Journal of Production Economics 133 2011 728 735