Abstract / Description of output
Models of transshipments in inventory systems generally assume that demand is observed. This research relaxes this assumption and proposes a model that can be used to plan reactive (i.e. to meet existing shortages) and proactive (i.e. to meet anticipated future shortages) transshipments in a general setting. Approximate dynamic programming is applied to develop a heuristic for the model. A numerical study shows that the proposed heuristic can lead to substantial cost savings compared to commonly used policies.
| Original language | English |
|---|---|
| Publication status | Published - 2016 |
| Event | 28th European Conference on Operational Research (EURO 2016) - Poznan, Poland Duration: 3 Jul 2016 → 6 Jul 2016 |
Conference
| Conference | 28th European Conference on Operational Research (EURO 2016) |
|---|---|
| Country/Territory | Poland |
| City | Poznan |
| Period | 3/07/16 → 6/07/16 |
Keywords / Materials (for Non-textual outputs)
- inventory
- programming
- dynamic