Simulated Annealing for Optimization of a Two-Stage Inventory System with Transshipments

Andreas Serin () and Bernd Hillebrand ()
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Andreas Serin: Universität Duisburg-Essen
Bernd Hillebrand: Technische Universität Dortmund

A chapter in Operations Research Proceedings 2015, 2017, pp 423-428 from Springer

Abstract: Abstract A two-level inventory system under a periodic review with lateral transshipments is considered. The supply chain is composed of the external manufacturer, the central warehouse and three identical retail outlets. By moving stock between retail outlets, the supply chain can maintain a service target while decreasing inventories. The aim is to optimize the order-up-to levels under a fill rate constraint. We combine a simulation with a barycentric interpolation at the Chebyshev points and a degree reduction technique to construct low-degree polynomial tensor product surfaces for the objective function and the constraint. The approximate optimization problem is solved by simulated annealing.

Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:spr:oprchp:978-3-319-42902-1_57

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DOI: 10.1007/978-3-319-42902-1_57

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