Modelling emergency lateral transshipments in inventory systems

Article Abstract:

A model of emergency lateral transshipments in continuous review inventory systems with repairable items is presented. The model is an extension of the multi-echelon inventory model with one-for-one ordering policies and Poisson demand. The demand rate at a base varies according to whether or not inventory is positive. Normal demand, as well as demand for emergency transshipments, is present with positive inventory, while the demand that must be back-ordered is present with no positive inventory. The model can also be applied to consumable items and single-echelon cases.

Management science, Freight transportation, Shipment of goods

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Performance bounds for lot sizing heuristics

Article Abstract:

The classical dynamic lot size problem is considered, without backlogging and capacity limitations. Worst case performance bounds for a class of lot sizing heuristics are derived. It is shown that 2 is a lower bound for the worst case performance of a general class of lot sizing heuristics. When applying a method in this class, a decision whether to have a set-up or not in a certain period is taken without regard to future demand. Different circumstances under which algorithms in the considered class may fail are illustrated.

Economic lot size

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The multilocation multiperiod inventory problem: bounds and approximations

Article Abstract:

The multilocation inventory problem can be viewed as an extended, single location 'newsboy' problem applied to multiple locations, with transshipment possible between sites. Earlier work has shown the form of optimal policies, but computational results have been confined to one-period cases or to special structures. Upper and lower bounds are developed for the general, multiperiod problem. Approximations to the optimal solution are also suggested. Computational methods are described and tested on some small problems.

Research, Stochastic analysis

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