Periodic review (s, S) policies for joint replenishment inventory systems

Periodic review (s, S) policies for joint replenishment inventory systems

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Article ID: iaor19982608
Country: United States
Volume: 43
Issue: 10
Start Page Number: 1447
End Page Number: 1454
Publication Date: Oct 1997
Journal: Management Science
Authors:
Abstract:

This note deals with the joint replenishment problem with stochastic demands. A new class of policies called P(s, S) policy is proposed for this problem. The proposed policy uses independent, periodic review (s, S) policies for each item. Results on test problems show that the proposed policy is superior to other classes of policies for the problem.

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