A review and classification of heuristic algorithms for the inventory routing problem

Stella Sofianopoulou and Ioannis Mitsopoulos

International Journal of Operational Research, 2021, vol. 41, issue 2, 282-298

Abstract: The inventory routing problem (IRP) is an integration of vehicle routing and inventory management problems. In the recent years, it has increasingly drawn the attention of the researchers because of its potentially significant practical value. The IRP is classified as NP-hard problem since it subsumes the vehicle routing problem (VRP). This fact led to the development of many heuristic or metaheuristic approaches, although a small number of exact methods have been introduced recently. Heuristic methods offer the advantage of shorter time scales, i.e., greater computational efficiency, on the expense of course of the accuracy of the results. The immediate trigger for this study is our concern about results validation, which has been debatable in early papers, and only recently a systematic effort to create a set of optimally solved benchmark instances has been made. This article presents the heuristic methods for solving the basic variants of IRP found in the literature, stressing the computational results and the solution verification approach, rather than the methodology of the algorithms. The paper concludes with a discussion on the quality of the performance assessment of the proposed algorithms.

Keywords: heuristic algorithms; literature review; results validation; inventory routing problem; IRP. (search for similar items in EconPapers)
Date: 2021
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