Generalized Solutions for the joint replenishment problem with correction factor

Eric Porras Musalem and Rommert Dekker

No EI 2005-19, Econometric Institute Research Papers from Erasmus University Rotterdam, Erasmus School of Economics (ESE), Econometric Institute

Abstract: In this paper we give a complete analysis of the joint replenishment problem (JRP) under constant demands and continuous time. We present a solution method for the JRP when a correction is made for empty replenishments, and we test the solution procedures with real data. We show that the solutions obtained differ from the standard JRP when no correction is made in the cost function. We further show that the JRP with correction outperforms independent ordering. Additional numerical experiments are presented.

Keywords: correction factor; inventory; joint replenishment (search for similar items in EconPapers)
Date: 2005-07-31
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Citations: View citations in EconPapers (2)

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