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| Author: | Axsater, S. |
| Title: | A Note on Stock Replenishment and Shipment Scheduling for Vendor-Managed Inventory Systems |
| Journal: | Management Science
2001 : SEP, VOL. 47:9, p. 1306-1310 |
| Index terms: | INVENTORIES DEMAND SCHEDULING |
| Language: | eng |
| Abstract: | In a recent paper, Cetinkaya and Lee (2000) model integrated inventory control and shipment scheduling in connection with vendor-managed inventory (VMI). 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. The authors also suggest a new approximation and an adjustment that can be used to improve both the original and new heuristic. The authors' numerical results show that Cetinkaya and Lee's heuristic may lead to costs that are considerably higher than the optimal costs. |
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