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4382. The Scheduled Joint Replenishment Problem
Invited abstract in session WC-61: Retail Inventory Management III, stream Retail Operations.
Wednesday, 12:30-14:00Room: S10 (building: 101)
Authors (first author is the speaker)
| 1. | Miguel Chastre
|
| IE&IS, Eindhoven University of Technology | |
| 2. | Albert Schrotenboer
|
| Department of Industrial Engineering and Innovation Sciences, Eindhoven University of Technology | |
| 3. | Christina Imdahl
|
| Supply Chain and Operations Management, Kühne Logistics University | |
| 4. | Tom van Woensel
|
| Technische Universiteit Eindhoven |
Abstract
We focus on a stochastic Joint Replenishment Problem setting with a single
item, one warehouse and multiple retailers facing compound Poisson demand. The novel aspect of this setting is that the retailers’ opportunities for replenishment are constrained by cyclical schedules. We model the underlying Markov Decision Process and determine the optimal joint replenishment policy for small instances via a value iteration approach. Our numerical analysis investigates the influence of schedule attributes on the structure of the final solution. To address larger instances, we propose an iterative solution method that makes use of a reduced state space.
Keywords
- Inventory
- Supply Chain Management
- Sustainable Development
Status: accepted
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