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Optimal joint replenishment policy for multiple non-instantaneous deteriorating items

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  • Xue-Yi Ai
  • Jin-Long Zhang
  • Lin Wang

Abstract

In this paper, we deal with the problem of determining the optimal economic operating policy when a number of non-instantaneous deteriorating items are jointly replenished. We establish a multi-item joint replenishment model for non-instantaneous deteriorating items under constant demand rate allowing full backlogging. This problem is challenging, in particular, the cost function is a piecewise function with exponential parts, which makes the problem more complicated. To solve this problem, an approximation method is used to simplify the objective function and a bound-based heuristic algorithm is developed to solve the model. Numerical examples illustrate the effectiveness of the proposed method and the quality of the approximation. Experimental results on a real-life case study show that the proposed model can achieve substantial cost savings compared to the individual replenishment policy for non-instantaneous deteriorating items. Furthermore, sensitivity analysis of key parameters is carried out and the implications are discussed in detail.

Suggested Citation

  • Xue-Yi Ai & Jin-Long Zhang & Lin Wang, 2017. "Optimal joint replenishment policy for multiple non-instantaneous deteriorating items," International Journal of Production Research, Taylor & Francis Journals, vol. 55(16), pages 4625-4642, August.
    • Handle: RePEc:taf:tprsxx:v:55:y:2017:i:16:p:4625-4642
    DOI: 10.1080/00207543.2016.1276306
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    Cited by:

    1. Mrudul Y. Jani & Manish R. Betheja & Amrita Bhadoriya & Urmila Chaudhari & Mohamed Abbas & Malak S. Alqahtani, 2022. "Optimal Pricing Policies with an Allowable Discount for Perishable Items under Time-Dependent Sales Price and Trade Credit," Mathematics, MDPI, vol. 10(11), pages 1-19, June.
    2. Xueyi Ai & Yi Yue & Haoxuan Xu & Xudong Deng, 2021. "Optimizing multi-supplier multi-item joint replenishment problem for non-instantaneous deteriorating items with quantity discounts," PLOS ONE, Public Library of Science, vol. 16(2), pages 1-22, February.
    3. Maihami, Reza & Govindan, Kannan & Fattahi, Mohammad, 2019. "The inventory and pricing decisions in a three-echelon supply chain of deteriorating items under probabilistic environment," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 131(C), pages 118-138.
    4. Zhang, Ren-Qian & Yi, Meng & Wang, Qi-Qi & Xiang, Chen, 2018. "Polynomial algorithm of inventory model with complete backordering and correlated demand caused by cross-selling," International Journal of Production Economics, Elsevier, vol. 199(C), pages 193-198.

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