An (R, S) Based Heuristic Model for the Stochastic Joint Replenishment Problem
Mengyuan Xiang,
Roberto Rossi,
S. Armagan Tarim
Abstract:This paper considers the periodic-review stochastic joint replenishment problem (JRP) under Bookbinder and Tan's static-dynamic uncertainty control policy. According to a static-dynamic uncertainty control rule, the decision maker fixes timing of replenishments once and for all at the beginning of the planning horizon, the inventory position is then raised to a predefined order-up-to-position at the beginning of each replenishment period. In this policy, freezing the replenishment times ameliorates the inheren… Show more
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