Generalized Solutions for the joint replenishment problem with correction factor
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|
Porras Musalem, E., & Dekker, R.. (2005). Generalized Solutions for the joint replenishment problem with correction factor (No. EI 2005-19). Report / Econometric Institute, Erasmus University Rotterdam. Retrieved from http://hdl.handle.net/1765/6915