Inventory lot-sizing with supplier selection

Inventory lot-sizing with supplier selection

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Article ID: iaor20052027
Country: United Kingdom
Volume: 32
Issue: 1
Start Page Number: 1
End Page Number: 14
Publication Date: Jan 2005
Journal: Computers and Operations Research
Authors: ,
Keywords: heuristics
Abstract:

This paper presents a multi-period inventory lot-sizing scenario, where there are multiple products and multiple suppliers. We consider a situation where the demand of multiple discrete products is known over a planning horizon. Each of these products can be sourced from a set of approved suppliers, a supplier-dependent transaction cost applying for each period in which an order is placed on a supplier. A product-dependent holding cost per period applies for each product in the inventory that is carried across a period in the planning horizon. The decision maker needs to decide what products to order in what quantities with which suppliers in which periods. An enumerative search algorithm and a heuristic are presented to address the problem.

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