Staff Publications

Staff Publications

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    'Staff publications' is the digital repository of Wageningen University & Research

    'Staff publications' contains references to publications authored by Wageningen University staff from 1976 onward.

    Publications authored by the staff of the Research Institutes are available from 1995 onwards.

    Full text documents are added when available. The database is updated daily and currently holds about 240,000 items, of which 72,000 in open access.

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Record number 431549
Title Constraint Programming for Stochastic Inventory Systems under Shortage Cost
Author(s) Rossi, R.; Tarim, S.A.; Hnich, B.; Prestwich, S.
Source Annals of Operations Research 195 (2012)1. - ISSN 0254-5330 - p. 49 - 71.
DOI https://doi.org/10.1007/s10479-011-0936-x
Department(s) WASS
Publication type Refereed Article in a scientific journal
Publication year 2012
Keyword(s) service-level constraints - lot-sizing problem - management - policies
Abstract One of the most important policies adopted in inventory control is the replenishment cycle policy. Such a policy provides an effective means of damping planning instability and coping with demand uncertainty. In this paper we develop a constraint programming approach able to compute optimal replenishment cycle policy parameters under non-stationary stochastic demand, ordering, holding and shortage costs. We show how in our model it is possible to exploit the convexity of the cost-function during the search to dynamically compute bounds and perform cost-based filtering. Our computational experience show the effectiveness of our approach. Furthermore, we use the optimal solutions to analyze the quality of the solutions provided by an existing approximate mixed integer programming approach that exploits a piecewise linear approximation for the cost function.
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