Computational results for the control of a divergent N-echelon inventory system

E.B. Diks, A.G. Kok, de

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Consider a divergent multi-echelon inventory system, e.g., a distribution system or a production system. At every facility in the system orders are placed (or production is initiated) periodically. The order arrives after a fixed lead time. At the end of each period linear costs are incurred at each facility for holding inventory. Also, linear penalty costs are incurred at the most downstream facilities for backorders. The objective is to minimize the expected holding and penalty costs per period. Within a class ofpractically useful policies the decomposition result is used to develop an algorithm which determines the control parameters of a near cost-optimal replenishment policy. A simulation study of a divergent 3-echelon system reveals that this algorithm performs well.
Originele taal-2Engels
Plaats van productieEindhoven
UitgeverijTechnische Universiteit Eindhoven
Aantal pagina's13
StatusGepubliceerd - 1996

Publicatie series

NaamMemorandum COSOR
Volume9628
ISSN van geprinte versie0926-4493

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