Optimal allocation policy for a multi-location inventory system with a quick response warehouse

A.C.C. Wijk, van; I.J.B.F. Adan; G.J.J.A.N. Houtum, van

doi:10.1016/j.orl.2013.03.002

Optimal allocation policy for a multi-location inventory system with a quick response warehouse

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We study a multi-location inventory problem with a so-called quick response warehouse and base stock inventory control. In case of a stock-out at a local warehouse, a demand can be satisfied by a stock transfer from the quick response warehouse. We derive the optimal policy for when to apply such a stock transfer, as well as conditions under which that is always optimal. In a numerical experiment we compare the optimal allocation policy to simpler policies.

Originele taal-2	Engels
Pagina's (van-tot)	305-310
Tijdschrift	Operations Research Letters
Volume	41
Nummer van het tijdschrift	3
DOI's	https://doi.org/10.1016/j.orl.2013.03.002
Status	Gepubliceerd - 2013

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abstract = "We study a multi-location inventory problem with a so-called quick response warehouse and base stock inventory control. In case of a stock-out at a local warehouse, a demand can be satisfied by a stock transfer from the quick response warehouse. We derive the optimal policy for when to apply such a stock transfer, as well as conditions under which that is always optimal. In a numerical experiment we compare the optimal allocation policy to simpler policies.",

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AB - We study a multi-location inventory problem with a so-called quick response warehouse and base stock inventory control. In case of a stock-out at a local warehouse, a demand can be satisfied by a stock transfer from the quick response warehouse. We derive the optimal policy for when to apply such a stock transfer, as well as conditions under which that is always optimal. In a numerical experiment we compare the optimal allocation policy to simpler policies.

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Optimal allocation policy for a multi-location inventory system with a quick response warehouse

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