An Algorithm for Determining the Best Lower Bound for the Stochastic Joint Replenishment Problem

S. Viswanathan ()
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S. Viswanathan: Nanyang Business School, Nanyang Technological University, Singapore 639798

Operations Research, 2007, vol. 55, issue 5, 992-996

Abstract: We develop an algorithm for determining the highest among the class of lower bounds proposed by Atkins and Iyogun (1988) for the joint replenishment problem (JRP) with stochastic demands. The proposed algorithm is simple and does not require many more calculations than an existing lower bound based on equalization of expected runout times.

Keywords: inventory/production; stochastic model; joint replenishment; lower bound (search for similar items in EconPapers)
Date: 2007
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Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:inm:oropre:v:55:y:2007:i:5:p:992-996

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