Article ID: | iaor19972245 |
Country: | United Kingdom |
Volume: | 24 |
Issue: | 1 |
Start Page Number: | 61 |
End Page Number: | 71 |
Publication Date: | Jan 1997 |
Journal: | Computers and Operations Research |
Authors: | Gder Faruk, Zydiak James L. |
Keywords: | heuristics |
The multi-item inventory problem wth a single resource constraint and quantity discounts is studied in this paper. Known solution approaches to this problem, both heuristic and enumerative, assume that ordering policies are stationary. A new heuristic approach is presented here for generating non-stationary ordering policies, with order quantities that can vary over time. Computational results for comparing these methods are given. The non-stationary approach is shown in these experiments to outperform heuristic stationary approaches, and an enumerative stationary approach when the non-stationary approach is suitably initialized.