scholarly journals An Optimization Approach for A Joint Location Inventory Model Considering Quantity Discount Policy

2012 ◽  
Vol 38 (4) ◽  
pp. 983-991 ◽  
Author(s):  
Z. Firoozi ◽  
S. H. Tang ◽  
Sh. Ariafar ◽  
M. K. A. M. Ariffin
Keyword(s):  
Inventory Model ◽  
Optimization Approach ◽  
Quantity Discount ◽  
Joint Location

A Simulation-Based Optimization Approach to a Lost Sale Stochastic Inventory Model

2012 ◽  
Vol 3 (2) ◽  
pp. 46-63 ◽  
Author(s):  
Rafael Diaz ◽  
Barry Charles Ezell
Keyword(s):  
Simulated Annealing ◽  
Inventory Model ◽  
Pattern Search ◽  
Ranking And Selection ◽  
Optimization Approach ◽  
Stochastic Inventory ◽  
Stochastic Inventory Model ◽  
Simulation Based ◽  
Simulation Based Optimization ◽  
Correlated Components

This paper describes a stochastic inventory model where the control review system is periodic; demand contains auto-correlated components; and categorized as a lost sale case. The authors propose a simulation-based optimization based on using a combination of simulated annealing, pattern search, and ranking and selection methods to search and approximate solutions to this problem. Simulated annealing is employed to stochastically nominate and pre-select solutions in a decision space. Pattern search is used to systematically define a grid of competitive neighbors around pre-selected solutions. Ranking and selection is used to evaluate the performance of such competing pre-selected alternatives. On one hand, results show that service level in terms of filling rates deteriorate as the autocorrelation grows and is ignored. In contrast, service levels were kept almost invariable to the effects of the serially correlated components for solutions suggested using the proposed algorithm.

scholarly journals A Joint Location-Inventory Model

2003 ◽  
Vol 37 (1) ◽  
pp. 40-55 ◽  
Author(s):  
Zuo-Jun Max Shen ◽  
Collette Coullard ◽  
Mark S. Daskin
Keyword(s):  
Inventory Model ◽  
Joint Location
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