Determining the Optimum Ordering Policy in Multi-Item Joint Replenishment Problem Using a Novel Method

Wen-Tsung Ho

Mathematical Problems in Engineering, 2013, vol. 2013, 1-9

Abstract:

This work investigates the joint replenishment problem (JRP) involving multiple items where economies exist for replenishing several items simultaneously. The demand rate for each item is known and constant. Shortages are not permitted and lead times are negligible. Many heuristic algorithms have been proposed to find quality solutions for the JRP. In this paper, cycle time division and recursive tightening methods are developed to calculate an efficient and optimal replenishment policy for JRP. Two theorems are demonstrated to guarantee that an optimal solution to the problem can be derived using cycle time division and recursive tightening methods. Restated, cycle time division and recursive tightening methods theoretically yield the optimal solution in 100% of instances. The complexity of cycle time division and recursive tightening methods is just O ( N log N ), where N represents the number of items involved in the problem. Numerical examples are included to demonstrate the algorithmic procedures.

Date: 2013
References: Add references at CitEc
Citations:

Downloads: (external link)
http://downloads.hindawi.com/journals/MPE/2013/469794.pdf (application/pdf)
http://downloads.hindawi.com/journals/MPE/2013/469794.xml (text/xml)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hin:jnlmpe:469794

DOI: 10.1155/2013/469794

Access Statistics for this article

More articles in Mathematical Problems in Engineering from Hindawi
Bibliographic data for series maintained by Mohamed Abdelhakeem ().