In this paper we consider a stochastic multi item inventory problem. A retailer sells multiple products with stochastic demand and is replenished periodically from a supplier with ample stock. At each order instant it is decided which product to order and how much to order. For the delivery of the products trucks with a finite capacity are available. The dispatched trucks arrive at the retailer...

This paper presents an economic production quantity (EPQ) model with a periodic order quantity (POQ) policy, product reliability and periodic demand. The machine reliability has decreased over time; therefore, the rates of perfect and defective products reduce and increase over time, respectively. A fixed percentage of these products are reworked while the rest is wasted. Some equipment in thei...

In this paper we study the long-standing open question regarding the computational complexity of one of the core problems in supply chains management, the periodic joint replenishment problem. This problem has received a lot of attention over the years and many heuristic and approximation algorithms were suggested. However, in spite of the vast effort, the complexity of the problem remained unr...

I n this paper, we study a single-product periodic-review inventory system that faces random and price-dependent demand. The firm can purchase the product either from option contracts or from the spot market. Different option contracts are offered by a set of suppliers with a two-part fee structure: a unit reservation cost and a unit exercising cost. The spot market price is random and its real...

This paper addresses the simultaneous determination of pricing and inventory replenishment strategies in the face of demand uncertainty. More specifically, we analyze the following single item, periodic review model. Demands in consecutive periods are independent, but their distributions depend on the item’s price in accordance with general stochastic demand functions. The price charged in any ...

We explore the value of information (VOI) in the context of a retailer that provides a perishable product to consumers and receives replenishment from a single supplier. We assume a periodic review model with stochastic demand, lost sales, and order quantity restrictions. The product lifetime is fixed and deterministic once received by the retailer, although the age of replenished items provide...

Abstract: In this paper we introduce the Periodic Petrol Station Replenishment Problem (PPSRP) over a T-day planning horizon and describe four heuristic methods for its solution. Even though all the proposed heuristics belong to the common partitioning-then-routing paradigm, they differ in assigning the stations to each day of the horizon. The resulting daily routing problems are then solved ex...

We consider a periodic-review single-location single-product inventory system with lost sales and positive replenishment lead times. It is well known that the optimal policy does not possess a simple structure. Motivated by recent results showing that base-stock policies perform well in these systems, we study the problem of finding the best base-stock policy in such a system. In contrast to th...