On optimal algorithms for the joint replenishment problem

In this paper, we demonstrate that the algorithm for determining the optimal strict cyclic policy for the Joint Replenishment Problem suggested by Fung and Ma does not guarantee an optimal solution. We propose a modification that will ensure that the algorithm obtains the optimal strict cyclic policy. We then perform a comprehensive computational study to compare the modified Fung and Ma algorithm with other optimal algorithms for the problem. The study reveals that the optimal algorithm of Viswanathan is computationally more efficient than other methods.