Minimizing the Total Cost in an Integrated Vendor--Managed Inventory System
Journal of Heuristics
No-centralize newsvendor model with re-distributed decision-making power
IITA'09 Proceedings of the 3rd international conference on Intelligent information technology application
Stochastic models for the coordinated production and shipment problem in a supply chain
Computers and Industrial Engineering
Joint shipment consolidation and inventory decisions in a two-stage distribution system
Computers and Industrial Engineering
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In a recent paper, Cetinkaya and Lee (2000) model integrated inventory control and shipment scheduling in connection with vendor-managed inventory (VMI). The model is optimized by an approximate technique. This note provides a simple procedure for exact optimization, and illustrates that the errors when using the suggested approximate technique may be very large for certain types of problems. We also suggest a new approximation and an adjustment that can be used to improve both the original and new heuristic.