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A Multiproduct Inventory System with Interactive Set-Up Costs

Author

Listed:
  • Fred Andres

    (Bell Telphone Laboratories, Incorporated, Holmdel, New Jersey)

  • Hamilton Emmons

    (Case Western Reserve University)

Abstract

We present a branch and bound algorithm for finding the optimal ordering policy for a multiproduct inventory system with deterministic demand, infinite horizon, and no backlogging. Ordering costs are assumed to include a separate set-up cost for each product ordered, but with a fixed savings each time all products are simultaneously ordered. Holding costs accrue at a constant rate per unit of each product. We first restrict our search to policies of a certain type, and then prove several theorems which lead to an efficient algorithm. For the two-product case, a special algorithm is developed to give more precise results than earlier authors.

Suggested Citation

  • Fred Andres & Hamilton Emmons, 1975. "A Multiproduct Inventory System with Interactive Set-Up Costs," Management Science, INFORMS, vol. 21(9), pages 1055-1063, May.
    • Handle: RePEc:inm:ormnsc:v:21:y:1975:i:9:p:1055-1063
    DOI: 10.1287/mnsc.21.9.1055
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    Cited by:

    1. Francisco Silva & Lucia Gao, 2013. "A Joint Replenishment Inventory-Location Model," Networks and Spatial Economics, Springer, vol. 13(1), pages 107-122, March.

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