A Semi-Markov decision problem for proactive and reactive transshipments between multiple warehouses |
| |
Authors: | Arkadi Seidscher Stefan Minner |
| |
Institution: | 1. Faculty of Business, Economics and Statistics, University of Vienna, Brünner Str. 72, 1210 Vienna, Austria;2. TUM School of Management, Technische Universität München, Arcisstr. 21, 80333 Munich, Germany |
| |
Abstract: | Lateral transshipments are an effective strategy to pool inventories. We present a Semi-Markov decision problem formulation for proactive and reactive transshipments in a multi-location continuous review distribution inventory system with Poisson demand and one-for-one replenishment policy. For a two-location model we state the monotonicity of an optimal policy. In a numerical study, we compare the benefits of proactive and different reactive transshipment rules. The benefits of proactive transshipments are the largest for networks with intermediate opportunities of demand pooling and the difference between alternative reactive transshipment rules is negligible. |
| |
Keywords: | Lateral transshipments Inventory control Multiple locations Markov decision problem |
本文献已被 ScienceDirect 等数据库收录! |
|