Simulation-based evolution of resupply and routing policies in rich vendor-managed inventory scenarios

Publikation: Beitrag in FachzeitschriftArtikelBegutachtung

12 Zitate (Scopus)

Abstract

Vendor managed inventory combines inventory management and transportation. Compared to classical inventory management approaches, this strategy offers various degrees of freedom for the vendor while providing a certain service quality level for the customers. To capture the characteristics of rich real-world scenarios, our problem formulation consists of multiple customers, many products and stochastic product usages. Additionally, we also consider mixed formulations, where only a certain part of the customers is switched to a vendor managed inventory to allow a stepwise transition. We show that resupply and routing policies can be evolved autonomously for those scenarios using a simulation-based optimization approach. By combining inventory management and routing, the resulting policies aim to minimize costs and to maximize resource usage while maintaining a given service level. In order to validate our approach, we perform case studies and apply the evolved rules on a large-scale vendor managed inventory scenario for supermarkets. Furthermore, we show that our methodology can be used to perform a sensitivity analysis by considering the influence of exogenous and endogenous factors on the decision process, if a customer base should be transitioned to a vendor managed inventory.

OriginalspracheEnglisch
Seiten (von - bis)379-400
Seitenumfang22
FachzeitschriftCentral European Journal of Operations Research
Jahrgang21
Ausgabenummer2
DOIs
PublikationsstatusVeröffentlicht - Mär 2013

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