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Stochastic optimization for transshipment problems with positive replenishment lead times

Author

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  • Yeming Gong

    (EM - EMLyon Business School)

  • Enver Yucesan

Abstract

Transshipments, monitored movements of material at the same echelon of a supply chain, represent an effective pooling mechanism. Earlier papers dealing with transshipments either do not incorporate replenishment lead times into their analysis, or only provide a heuristic algorithm where optimality cannot be guaranteed beyond settings with two locations. This paper uses infinitesimal perturbation analysis by combining with a stochastic approximation method to examine the multi-location transshipment problem with positive replenishment lead times. It demonstrates the computation of optimal base stock quantities through sample path optimization. From a methodological perspective, this paper deploys a duality-based gradient computation method to improve computational efficiency. From an application perspective, it solves transshipment problems with non-negligible replenishment lead times. A numerical study illustrates the performance of the proposed approach.

Suggested Citation

  • Yeming Gong & Enver Yucesan, 2012. "Stochastic optimization for transshipment problems with positive replenishment lead times," Post-Print hal-02312630, HAL.
    • Handle: RePEc:hal:journl:hal-02312630
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    Cited by:

    1. Reut Noham & Michal Tzur, 2014. "The single and multi‐item transshipment problem with fixed transshipment costs," Naval Research Logistics (NRL), John Wiley & Sons, vol. 61(8), pages 637-664, December.
    2. Shao, Xiao-Feng, 2018. "Production disruption, compensation, and transshipment policies," Omega, Elsevier, vol. 74(C), pages 37-49.
    3. Heydari, Jafar & Mahmoodi, Mansour & Taleizadeh, Ata Allah, 2016. "Lead time aggregation: A three-echelon supply chain model," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 89(C), pages 215-233.

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