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A Simple Continuous Review Deterministic One-Warehouse N-Retailer Inventory Problem

A Simple Continuous Review Deterministic One-Warehouse N-Retailer Inventory Problem A one-warehouse N-retailer deterministic inventory system is examined. The objective is to determine the stocking policy which minimizes average system cost per unit time over the infinite time horizon. Necessary properties of an optimal policy are derived, and optimal solutions for the one-retailer and N identical retailer problems are given. Heuristic solutions for the general problem are suggested, tested against analytical lower bounds and, on the basis of these tests, found to be near optimal. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Management Science INFORMS

A Simple Continuous Review Deterministic One-Warehouse N-Retailer Inventory Problem

Management Science , Volume 19 (5): 12 – Jan 1, 1973
13 pages

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References (12)

Publisher
INFORMS
Copyright
Copyright © INFORMS
Subject
Research Article
ISSN
0025-1909
eISSN
1526-5501
DOI
10.1287/mnsc.19.5.555
Publisher site
See Article on Publisher Site

Abstract

A one-warehouse N-retailer deterministic inventory system is examined. The objective is to determine the stocking policy which minimizes average system cost per unit time over the infinite time horizon. Necessary properties of an optimal policy are derived, and optimal solutions for the one-retailer and N identical retailer problems are given. Heuristic solutions for the general problem are suggested, tested against analytical lower bounds and, on the basis of these tests, found to be near optimal.

Journal

Management ScienceINFORMS

Published: Jan 1, 1973

There are no references for this article.