Ordering policies for multi-item inventory systems subject to multiple resource constraints

Ordering policies for multi-item inventory systems subject to multiple resource constraints

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Article ID: iaor20001317
Country: United Kingdom
Volume: 26
Issue: 6
Start Page Number: 583
End Page Number: 597
Publication Date: May 1999
Journal: Computers and Operations Research
Authors: ,
Keywords: heuristics
Abstract:

We study the multi-item inventory problem with multiple resource constraints. For the simplified variant of this problem with a single resource constraint, known heuristic solution approaches assume independent cycles, fixed cycles, and non-stationary order quantities. For the multiple constraint problem, however, only independent cycle solution algorithms exist in the literature. In this paper, we devise both fixed cycle and non-stationary approaches to the multiple constraint problem, and give computational results showing their potential cost-effectiveness over independent cycle methods.

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