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Author: | Anily, S. |
Title: | Multi-item replenishment and storage problem /MIRSP/: Heuristics and bounds |
Journal: | Operations Research
1991 : MAR-APR, VOL. 39:2, p. 233-243 |
Index terms: | STORAGE COSTS HEURISTIC METHODS DECISION MAKING WAREHOUSING |
Language: | eng |
Abstract: | Smoothing the stock volume over time in order to minimize the cost due to space acquisition is a problem occurring often in automated warehouses. An infinite-horizon, multi-item replenishment problem is considered, where an extra charge proportional to the peak stock volume at the warehouse is due, in addition to the usual setup and holding costs. This extra cost makes careful coordination necessary while making decisions on the individual item policies. The analysis is restricted to the class of policies that follows a stationary rule for each item separately. A lover bound is derived on the optimal average cost over all policies in this class. The worst case of the Rotation Cycle policy is also investigated. |
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