A sample-based method for perishable good inventory control with a service level constraint

Eligius M.T. Hendrix, Karin G.J. Pauls-Worm, Roberto Rossi, Alejandro G. Alcoba, Rene Haijema

Research output: Chapter in Book/Report/Conference proceedingChapterAcademicpeer-review

Abstract

This paper studies the computation of so-called order-upto levels for a stochastic programming inventory problem of a perishable product. Finding a solution is a challenge as the problem enhances a perishable product, fixed ordering cost and non-stationary stochastic demand with a service level constraint. An earlier study [7] derived order-up-to values via an MILP approximation. We consider a computational method based on the so-called Smoothed Monte Carlo method using sampled demand to optimize values. The resulting MINLP approach uses enumeration, bounding and iterative nonlinear optimization.

LanguageEnglish
Title of host publicationComputational Logistics
PublisherSpringer Verlag
Pages526-540
Volume9335
ISBN (Print)9783319242637
DOIs
Publication statusPublished - 2015
Event6th International Conference on Computational Logistics, ICCL 2015 - Delft, Netherlands
Duration: 23 Sep 201525 Sep 2015

Publication series

NameLecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)
Volume9335
ISSN (Print)0302-9743
ISSN (Electronic)1611-3349

Conference

Conference6th International Conference on Computational Logistics, ICCL 2015
CountryNetherlands
CityDelft
Period23/09/1525/09/15

Fingerprint

Stochastic programming
Inventory control
Inventory Control
Service Levels
Computational methods
Monte Carlo methods
Stochastic Demand
Mixed Integer Nonlinear Programming
Mixed Integer Linear Programming
Stochastic Programming
Nonlinear Optimization
Computational Methods
Monte Carlo method
Enumeration
Costs
Optimise
Approximation
Demand

Keywords

  • Chance constraint
  • Inventory control
  • MINLP
  • Monte carlo
  • Perishable products

Cite this

Hendrix, E. M. T., Pauls-Worm, K. G. J., Rossi, R., Alcoba, A. G., & Haijema, R. (2015). A sample-based method for perishable good inventory control with a service level constraint. In Computational Logistics (Vol. 9335, pp. 526-540). (Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics); Vol. 9335). Springer Verlag. https://doi.org/10.1007/978-3-319-24264-4_36
Hendrix, Eligius M.T. ; Pauls-Worm, Karin G.J. ; Rossi, Roberto ; Alcoba, Alejandro G. ; Haijema, Rene. / A sample-based method for perishable good inventory control with a service level constraint. Computational Logistics . Vol. 9335 Springer Verlag, 2015. pp. 526-540 (Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)).
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Hendrix, EMT, Pauls-Worm, KGJ, Rossi, R, Alcoba, AG & Haijema, R 2015, A sample-based method for perishable good inventory control with a service level constraint. in Computational Logistics . vol. 9335, Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics), vol. 9335, Springer Verlag, pp. 526-540, 6th International Conference on Computational Logistics, ICCL 2015, Delft, Netherlands, 23/09/15. https://doi.org/10.1007/978-3-319-24264-4_36

A sample-based method for perishable good inventory control with a service level constraint. / Hendrix, Eligius M.T.; Pauls-Worm, Karin G.J.; Rossi, Roberto; Alcoba, Alejandro G.; Haijema, Rene.

Computational Logistics . Vol. 9335 Springer Verlag, 2015. p. 526-540 (Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics); Vol. 9335).

Research output: Chapter in Book/Report/Conference proceedingChapterAcademicpeer-review

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Hendrix EMT, Pauls-Worm KGJ, Rossi R, Alcoba AG, Haijema R. A sample-based method for perishable good inventory control with a service level constraint. In Computational Logistics . Vol. 9335. Springer Verlag. 2015. p. 526-540. (Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)). https://doi.org/10.1007/978-3-319-24264-4_36