A note on stock replenishment and shipment scheduling for vendor-managed inventory systems

A note on stock replenishment and shipment scheduling for vendor-managed inventory systems

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Article ID: iaor20032209
Country: United States
Volume: 47
Issue: 9
Start Page Number: 1306
End Page Number: 1310
Publication Date: Sep 2001
Journal: Management Science
Authors:
Abstract:

In a recent paper, Cetinkaya and Lee model integrated inventory control and shipment scheduling in connection with vendor-managed inventory. The model is optimized by an approximate technique. This note provides a simple procedure for exact optimization, and illustrates that the errors when using the suggested approximate technique may be very large for certain types of problems. We also suggest a new approximation and an adjustment that can be used to improve both the original and new heuristic.

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