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 Gutierrez-Alcoba; Rene  Haijema

doi:10.1007/978-3-319-24264-4_36

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 Gutierrez-Alcoba, Rene Haijema

Research output: Chapter in Book/Report/Conference proceeding › Chapter (peer-reviewed) › peer-review

Abstract

This paper studies the computation of order up to levels for
a stochastic programming inventory problem of a perishable product.
Finding a solution is a challenge as the problem enhances a perishable
product, xed ordering cost and non-stationary stochastic demand with
a service level constraint. An earlier study [6] 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.

Original language	English
Title of host publication	Proceedings of the 6th International Conference on Computational Logistics (ICCL’15)
Publisher	Springer
Pages	526-540
DOIs	https://doi.org/10.1007/978-3-319-24264-4_36
Publication status	Published - 2015
Event	6th International Conference on Computational Logistics (ICCL’15) - Delft, Netherlands Duration: 23 Sept 2015 → 25 Sept 2015

Publication series

Name	Lecture Notes in Computer Science
Publisher	Springer Verlag

Conference

Conference	6th International Conference on Computational Logistics (ICCL’15)
Country/Territory	Netherlands
City	Delft
Period	23/09/15 → 25/09/15

Keywords / Materials (for Non-textual outputs)

inventory control
perishable products
MINLP
chance constraint
Monte Carlo

Access to Document

10.1007/978-3-319-24264-4_36

Cite this

Hendrix, E. M. T., Pauls-Worm, K. G. J., Rossi, R., Gutierrez-Alcoba, A., & Haijema, R. (2015). A sample-based method for perishable good inventory control with a service level constraint. In Proceedings of the 6th International Conference on Computational Logistics (ICCL’15) (pp. 526-540). (Lecture Notes in Computer Science). Springer. https://doi.org/10.1007/978-3-319-24264-4_36

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title = "A sample-based method for perishable good inventory control with a service level constraint",

abstract = "This paper studies the computation of order up to levels for a stochastic programming inventory problem of a perishable product. Finding a solution is a challenge as the problem enhances a perishable product, xed ordering cost and non-stationary stochastic demand with a service level constraint. An earlier study [6] 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.",

keywords = "inventory control , perishable products, MINLP, chance constraint, Monte Carlo",

author = "Hendrix, \{Eligius M.T.\} and Pauls-Worm, \{Karin G.J.\} and Roberto Rossi and Alejandro Gutierrez-Alcoba and Rene Haijema",

year = "2015",

doi = "10.1007/978-3-319-24264-4\_36",

language = "English",

series = "Lecture Notes in Computer Science",

publisher = "Springer",

pages = "526--540",

booktitle = "Proceedings of the 6th International Conference on Computational Logistics (ICCL{\textquoteright}15)",

address = "United Kingdom",

note = "6th International Conference on Computational Logistics (ICCL{\textquoteright}15) ; Conference date: 23-09-2015 Through 25-09-2015",

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Hendrix, EMT, Pauls-Worm, KGJ, Rossi, R, Gutierrez-Alcoba, A & Haijema, R 2015, A sample-based method for perishable good inventory control with a service level constraint. in Proceedings of the 6th International Conference on Computational Logistics (ICCL’15). Lecture Notes in Computer Science, Springer, pp. 526-540, 6th International Conference on Computational Logistics (ICCL’15), 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 et al.
Proceedings of the 6th International Conference on Computational Logistics (ICCL’15). Springer, 2015. p. 526-540 (Lecture Notes in Computer Science).

Research output: Chapter in Book/Report/Conference proceeding › Chapter (peer-reviewed) › peer-review

TY - CHAP

T1 - A sample-based method for perishable good inventory control with a service level constraint

AU - Hendrix, Eligius M.T.

AU - Pauls-Worm, Karin G.J.

AU - Rossi, Roberto

AU - Gutierrez-Alcoba, Alejandro

AU - Haijema, Rene

PY - 2015

Y1 - 2015

N2 - This paper studies the computation of order up to levels for a stochastic programming inventory problem of a perishable product. Finding a solution is a challenge as the problem enhances a perishable product, xed ordering cost and non-stationary stochastic demand with a service level constraint. An earlier study [6] 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.

AB - This paper studies the computation of order up to levels for a stochastic programming inventory problem of a perishable product. Finding a solution is a challenge as the problem enhances a perishable product, xed ordering cost and non-stationary stochastic demand with a service level constraint. An earlier study [6] 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.

KW - inventory control

KW - perishable products

KW - MINLP

KW - chance constraint

KW - Monte Carlo

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DO - 10.1007/978-3-319-24264-4_36

M3 - Chapter (peer-reviewed)

T3 - Lecture Notes in Computer Science

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EP - 540

BT - Proceedings of the 6th International Conference on Computational Logistics (ICCL’15)

PB - Springer

T2 - 6th International Conference on Computational Logistics (ICCL’15)

Y2 - 23 September 2015 through 25 September 2015

ER -

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

Abstract

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Keywords / Materials (for Non-textual outputs)

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Cite this