Note---A Dynamic Programming Algorithm for Joint Replenishment Under General Order Cost Functions

Meir J. Rosenblatt and Moshe Kaspi
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Meir J. Rosenblatt: Industrial Engineering/Engineering Management Department, Stanford University, Stanford, California 94305
Moshe Kaspi: Faculty of Industrial Engineering and Management, Technion---Israel Institute of Technology, Haifa, Israel

Management Science, 1985, vol. 31, issue 3, 369-373

Abstract: The multi-item joint replenishment problem is generalized to allow ordering costs to be dependent on the specific items jointly supplied. A fixed cycle approach is examined in which all the items of a group are always jointly replenished. A dynamic programming algorithm is developed for partitioning the items into groups, each with its own fixed cycle time, resulting in an optimal fixed cycle replenishment policy.

Keywords: dynamic programming: applications; inventory/production: deterministic models (search for similar items in EconPapers)
Date: 1985
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Persistent link: https://EconPapers.repec.org/RePEc:inm:ormnsc:v:31:y:1985:i:3:p:369-373

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