Asymptotically Optimal Lagrangian Policies for Multi-Warehouse, Multi-Store Systems with Lost Sales

2021 ◽  
Author(s):  
Sentao Miao ◽  
Stefanus Jasin ◽  
Xiuli Chao
Keyword(s):  
Inventory Control ◽  
The United States ◽  
Control Problems ◽  
Distribution Centers ◽  
Computationally Efficient ◽  
Asymptotically Optimal ◽  
Online Retailers ◽  
Brick And Mortar ◽  
Retail Chains ◽  
Inventory Control Problem

Simple Algorithms for Complex Multiwarehouse, Multistore Inventory Control Problems Retailers (both brick-and-mortar and e-commerce) have always faced the problem of allocating inventories in their warehouses (or central distribution centers) to the stores (or smaller local warehouses) in order to minimize total costs. The problem is particularly challenging when the network structure is large and complex, the selling season is long, and the replenishment is frequent. For example, giant retail chains such as Macy’s typically have many warehouses and hundreds of stores across the United States, and online retailers such as Amazon have many distribution centers and over one hundred fulfillment centers. The authors develop algorithms to solve this multiwarehouse, multistore (MWMS) inventory control problem. Their algorithms are computationally efficient and asymptotically optimal as the problem becomes large and complex. This feature is very appealing to today’s fast-moving retail industry with rapidly expanding business scale.

scholarly journals Omnichannel Retail and Business Model Transformation

2021 ◽  
Author(s):  
Ioannis Allagiannis ◽  
◽  
Aparna Lohiya ◽  
Anita Mirijamdotter ◽  
Keyword(s):  
Business Model ◽  
The United States ◽  
Retail Sector ◽  
Online Retailers ◽  
Challenges And Opportunities ◽  
Brick And Mortar ◽  
Technological Developments ◽  
Model Transition ◽  
To Receive ◽  
Digital Channels

Due to new technological developments and the ongoing digitalization, the traditional retail sector is currently exposed to major challenges. Digital Retail started with the development of e-commerce, when online companies, such as Amazon, began selling products online. These major online global players are still growing much faster than their smaller European retail competitors. As the absorption of buying power through online retailers, is dominated by global players based in Asia (Alibaba, Rakuten) and the United States (Amazon, eBay), Europe is experiencing a loss in revenue. In this highly competitive market, traditional European brick-and-mortar retailers face hard challenges. However, studies show that most customers currently do not prefer pure online retailers, but a hybrid model, since traditional stores provide them with the opportunity to experience products and to receive personal advice from experts. This paper is a contribution to on-going research on the business model transition to include digital channels in traditional retail companies and to integrate various channels that support and streamline personal customer requirements. Thus, the paper explores challenges and opportunities for omnichannel management in the digital retail industry.

scholarly journals Inventory Control Problems with Exponential and Quadratic Demand considering Weibull Deterioration

2021 ◽  
Vol 1821 (1) ◽  
pp. 012057
Author(s):  
Raka Iswara Prathama Setiawan ◽  
Julius Dharma Lesmono ◽  
Taufik Limansyah
Keyword(s):  
Inventory Control ◽  
Control Problems

scholarly journals Metamodelling of Inventory-Control Simulations Based on a Multilayer Perceptron

2019 ◽  
Vol 20 (3) ◽  
pp. 251-259 ◽  
Author(s):  
Ilya Jackson ◽  
Jurijs Tolujevs ◽  
Sebastian Lang ◽  
Zhandos Kegenbekov
Keyword(s):  
Control System ◽  
Inventory Control ◽  
Multilayer Perceptron ◽  
Simulation Optimization ◽  
Activation Function ◽  
Control Problems ◽  
Perishable Products ◽  
Stochastic Inventory ◽  
Stochastic Inventory Control ◽  
Rectified Linear Unit

Abstract Inventory control problems arise in various industries, and each single real-world inventory is replete with non-standard factors and subtleties. Practical stochastic inventory control problems are often analytically intractable, because of their complexity. In this regard, simulation-optimization is becoming more and more popular tool for solving complicated business-driven problems. Unfortunately, simulation, especially detailed, is both time and memory consuming. In the light of this fact, it may be more reasonable to use an alternative cheaper-to-compute metamodel, which is specifically designed in order to approximate an original simulation. In this research we discus metamodelling of stochastic multiproduct inventory control system with perishable products using a multilayer perceptron with a rectified linear unit as an activation function.

Introduction

2017 ◽  
Author(s):  
Julian Agyeman ◽  
Caitlin Matthews ◽  
Hannah Sobel
Keyword(s):  
United States ◽  
Economic Development ◽  
Cultural Practices ◽  
The United States ◽  
Community Economic Development ◽  
Street Food ◽  
Food Trucks ◽  
City Brand ◽  
Brick And Mortar ◽  
State Street

The urban food scape is changing rapidly. Food trucks, which are part of a wider phenomenon of street food vending, are an increasingly common sight in many cities throughout the United States and Canada. With this rise in the popularity of food trucks, the key issue of regulatory conflicts between the state, street food vending and food truck entrepreneurs, and the wider industry as a whole, has risen to the fore. Cities have responded in various ways to increased interest in mobile food vending – some have adopted encouraging and relaxed regulations, some have attempted to harness the momentum to craft a city brand, and some have rigidly regulated food trucks in response to protest by brick-and-mortar competitors. This Introduction frames the volume through its guiding questions and a variety of lenses - community economic development, social justice, postmodernism. The Introduction also outlines the sections of the volume (Democratic vs. Regulatory Practices and Spatial-Cultural Practices) and summarizes the chapters included in each section.

Artificial Neural Network for Solving the Inventory Control Problem in Fuzzy Environments

2021 ◽  
pp. 126-143
Author(s):  
Mostafijur Rahaman ◽  
Sankar Prasad Mondal ◽  
Shariful Alam
Keyword(s):  
Neural Network ◽  
Differential Equation ◽  
Neural Networks ◽  
Artificial Neural Network ◽  
Artificial Neural Networks ◽  
Inventory Control ◽  
Solution Procedure ◽  
Control Problems ◽  
Fuzzy Environment ◽  
Artificial Neural

In this chapter, different inventory control problems are formulated in fuzzy environment and solved by artificial neural network. Due to present the non-linearity associated with the differential equation in fuzzy environment, the solution procedure may be very complicated. To avoid the situation, artificial neural networks play an important role. In this chapter, different inventory control problems are formulated in fuzzy environment and solved by artificial neural network. Due to present the non-linearity associated with the differential equation in fuzzy environment, the solution procedure may be very complicated. To avoid the situation, artificial neural networks play an important role.

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