The metered inventory routing problem, an integrative heuristic algorithm

Article Abstract:

A model formulation for inventory routing problems as well as a solution procedure was presented. The problem, called the Metered Inventory Routing Problem, involves a firm that needs to supply a set of geographically dispersed customers. Parameters of the problem include fixed ordering, holding and stockout and also storage capacity and a stochastic demand process. Using a heuristic developed for the problem, the results showed that the temporal heuristic was superior to the hierarchical approach.

Asset & Risk Management, Research, Algorithms

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An inventory model for items with demands satisfied from stock or by special deliveries

Article Abstract:

An inventory model for stocks that are characterized by lumpy demand is formulated. This model incorporates a maximum order quantity where customer orders equal to or below that quantity will be satisfied from the stock inventory and those orders exceeding the amount will be treated as a special case and solved through a direct delivery to the customer through a replenishment policy. The latter case will not change inventory level and thus result in more cost effective performance.

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Optimal inventory and disposal policies in response to a sale

Article Abstract:

An economic-order-quantity-type model for a buyer who informed of a temporary sale is developed and examined. The buyers have an option to place special orders and an option to dispose part of their on-hand inventory. Optimal inventory and disposal policies are formulated for this buyer by comparing cost savings of different cases of strategies. These policies are fully integrated and simultaneously determined. Several managerial implications of the findings are discussed.

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