Webbläsaren som du använder stöds inte av denna webbplats. Alla versioner av Internet Explorer stöds inte längre, av oss eller Microsoft (läs mer här: * https://www.microsoft.com/en-us/microsoft-365/windows/end-of-ie-support).

Var god och använd en modern webbläsare för att ta del av denna webbplats, som t.ex. nyaste versioner av Edge, Chrome, Firefox eller Safari osv.

Fixed-Interval Joint-Replenishment Policies for Distribution Systems with Multiple Retailers and Stochastic Demand

In English

Författare

  • Qinan Wang
  • Sven Axsäter

Summary, in English

We consider a distribution system consisting of a central warehouse and a group of retailers facing independent stochastic demand. The retailers replenish from the warehouse, and the warehouse from an outside supplier with ample supply. Time is continuous. Most previous studies on inventory control policies for this system have considered stock-based batch-ordering policies. We develop a time-based joint-replenishment policy in this study. Let the warehouse set up a basic replenishment interval. The retailers are replenished through the warehouse in intervals that are integer multiples of the basic replenishment interval. No inventory is carried at the warehouse. We provide an exact evaluation of the long-term average system costs under the assumption that stock can be balanced among the retailers. The structural properties of the inventory system are characterized. We show that, although it is well known that stock-based inventory control policies dominate time-based inventory control policies at a single facility, this dominance does not hold for distribution systems with multiple retailers and stochastic demand. This is because the latter can provide a more efficient mechanism to streamline inventory flow and pool retailer demand, even though the former may be able to use more updated stock information to optimize system performance. The findings of the study provide insights about the key factors that drive the performance of a multiechelon inventory control system. (c) 2013 Wiley Periodicals, Inc. Naval Research Logistics 60: 637-651, 2013

Avdelning/ar

Publiceringsår

2013

Språk

Engelska

Sidor

637-651

Publikation/Tidskrift/Serie

Naval Research Logistics

Volym

60

Issue

8

Dokumenttyp

Artikel i tidskrift

Förlag

John Wiley & Sons Inc.

Ämne

  • Transport Systems and Logistics

Nyckelord

  • multiechelon inventory control policy
  • supply chain coordination
  • coordinated replenishment
  • risk
  • stock pooling

Status

Published

ISBN/ISSN/Övrigt

  • ISSN: 0894-069X