In this paper we present a quantity-based model for integrated inventory replenishment and shipment consolidation decisions under vendor managed inventory. Assuming the vendor uses a special reorder point, order-up-to level, or ( , ) s S policy for inventory control and adopts a quantity-based dispatching strategy under stochastic settings, we build its simulation model. By simulating in Arena ...

The replenishment staggering problem is the problem of offsetting inventory replenishment cycles of several items in order to minimize the maximum required storage space and/or other storage resources. In its simplest version, inventory consumption rates are constant over time and replenishment cycle lengths are known integer multiples of a given basic period. In this paper, a simple, efficient...

This paper deals with the determination of production-shipment policy for an integrated vendor-buyer system. The inventory model contains two decision variables: the replenishment lot size and the number of deliveries. This paper solves the inventory model considering two cases: 1) the replenishment lot size as continuous variable and the number of shipments as discrete variable, and 2) the rep...

Companies survive in saturated markets trying to be more productive and more efficient. In this context, to manage more accurately the finished goods inventories becomes critical for make to stock production systems companies. In this paper an inventory replenishment expert system with the objectives of improving quality service and reducing holding costs is proposed. The Inventory Replenishmen...

In this research, we deal with VMI (Vendor Managed Inventory) problem where one supplier is responsible for managing a retailer’s inventory under unstable customer demand situation. To cope with the nonstationary demand situation, we develop a retrospective action-reward learning model, a kind of reinforcement learning techniques, which is faster in learning than conventional action-reward lear...

In this paper we consider a single-item inventory systemwith lost sales and fixed order cost. We numerically illustrate the lack of a clear structure in optimal replenishment policies for such systems. However, policies with a simple structure are preferred in practical settings. Examples of replenishment policies with a simple parametric description are the (s, S) policy and the (s,nQ) policy....

In this paper, an inventory replenishment model for deteriorating items is developed. Demand for the item varies with time over a finite planning horizon, during which shortages are allowed and are completely back-ordered. The objective is to determine a replenishment policy that minimizes the total inventory cost. A search procedure based on Genetic Algorithm (GA) is presented and illustrated ...

We study periodic-review inventory replenishment problems with fixed ordering costs, and show the optimality of (s, S) inventory replenishment policies. We consider several sales mechanisms, e.g., auction mechanisms, name-your-own-price mechanisms, and multiple heterogeneous sales channels. We prove this result by showing that these models satisfy a condition given by Huh and Janakiraman (2004)...

Advance Demand Information can improve the performance of production/inventory systems with random demand considerably. However, to exploit the potential of such information, replenishment policies must be adapted to the available information. We explore the impact and the benefits of Advance Demand Information under optimal replenishment policies for two different supply chain structures, one ...

Using a participatory simulation platform, this paper investigates the inventory replenishment decisions made under different trust categories. Depending on the type of trust (trust in supplier versus trust in customer) and level of trust (high versus low), each decision is categorized and analyzed. We investigate how the inventory manager`s ordering behavior varies regarding their type and lev...