A new iterative heuristic to solve the joint replenishment problem using a spreadsheet technique

A new iterative heuristic to solve the joint replenishment problem using a spreadsheet technique

0.00 Avg rating0 Votes
Article ID: iaor20081596
Country: Netherlands
Volume: 108
Issue: 1/2
Start Page Number: 399
End Page Number: 405
Publication Date: Jan 2007
Journal: International Journal of Production Economics
Authors: , ,
Keywords: heuristics
Abstract:

In this paper, a heuristic method is presented which gives a novel approach to solve joint replenishment problems (JRP) with strict cycle policies. The heuristic solves the JRP in an iterative procedure and is based on a spreadsheet technique. The principle of the recursion procedure is to find a balance between the replenishment and inventory holding costs for the different items by adjusting the replenishment frequencies. The heuristic is also tested according to an extensive test template and shows pleasing results. It also performs well in comparison with many other heuristics.

Reviews

Required fields are marked *. Your email address will not be published.