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Inventory-routing model, for a multi-period problem with stochastic and deterministic demand

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Abstract

The need for integration in the supply chain management leads us to consider the coordination of two logistic planning functions: transportation and inventory. The coordination of these activities can be an extremely important source of competitive advantage in the supply chain management. The battle for cost reduction can pass through the equilibrium of transportation versus inventory managing costs. In this work, we study the specific case of an inventory-routing problem for a week planning period with different types of demand. A heuristic methodology, based on the Iterated Local Search, is proposed to solve the Multi-Period Inventory Routing Problem with stochastic and deterministic demand.

Suggested Citation

  • Rita Ribeiro & Helena Ramalhinho-Lourenço, 2003. "Inventory-routing model, for a multi-period problem with stochastic and deterministic demand," Economics Working Papers 725, Department of Economics and Business, Universitat Pompeu Fabra.
  • Handle: RePEc:upf:upfgen:725
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    1. repec:pal:jorsoc:v:58:y:2007:i:9:d:10.1057_palgrave.jors.2602264 is not listed on IDEAS
    2. Govindan, Kannan, 2015. "The optimal replenishment policy for time-varying stochastic demand under vendor managed inventory," European Journal of Operational Research, Elsevier, vol. 242(2), pages 402-423.

    More about this item

    Keywords

    Inventory-Routing; iterated local search; logistics;

    JEL classification:

    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
    • M19 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Other

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