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Order Fulfillment and Replenishment Policies for Fully Substitutable Products

In: Operations Research Proceedings 2011

Author

Listed:
  • Beyazit Ocaktan

    (Sakarya University)

  • Ufuk Kula

    (Sakarya University)

Abstract

We consider a fully substitutable multi product inventory system in which customer demand may be satisfied by delivering any combination of products. A customer requesting a certain quantity, D may accept different combinations of products as long as its order of size D is fulfilled.We model the system as a Markov decision process and develop a approximate dynamic programming algorithm to determine order fulfillment and replenishment policies. In order to reduce the run time of the algorithm, we use two-layer neural network that iteratively fits a function to the state values and finds an approximately optimal order fulfillment and can order type replenishment policy.

Suggested Citation

  • Beyazit Ocaktan & Ufuk Kula, 2012. "Order Fulfillment and Replenishment Policies for Fully Substitutable Products," Operations Research Proceedings, in: Diethard Klatte & Hans-Jakob Lüthi & Karl Schmedders (ed.), Operations Research Proceedings 2011, edition 127, pages 533-538, Springer.
    • Handle: RePEc:spr:oprchp:978-3-642-29210-1_85
    DOI: 10.1007/978-3-642-29210-1_85
    as

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