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The use of simple calibrations of the individual locations in making transhipment decisions in a multi-location inventory network

Research output: Contribution to Journal/Magazine › Journal article › peer-review

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The use of simple calibrations of the individual locations in making transhipment decisions in a multi-location inventory network. / Archibald, T W; Black, D; Glazebrook, K D.
In: Journal of the Operational Research Society, Vol. 61, 2010, p. 294-305.

Research output: Contribution to Journal/Magazine › Journal article › peer-review

Harvard

Archibald, TW, Black, D & Glazebrook, KD 2010, 'The use of simple calibrations of the individual locations in making transhipment decisions in a multi-location inventory network', Journal of the Operational Research Society, vol. 61, pp. 294-305. https://doi.org/10.1057/jors.2008.127

APA

Archibald, T. W., Black, D., & Glazebrook, K. D. (2010). The use of simple calibrations of the individual locations in making transhipment decisions in a multi-location inventory network. Journal of the Operational Research Society, 61, 294-305. https://doi.org/10.1057/jors.2008.127

Vancouver

Archibald TW, Black D, Glazebrook KD. The use of simple calibrations of the individual locations in making transhipment decisions in a multi-location inventory network. Journal of the Operational Research Society. 2010;61:294-305. doi: 10.1057/jors.2008.127

Author

Archibald, T W ; Black, D ; Glazebrook, K D. / The use of simple calibrations of the individual locations in making transhipment decisions in a multi-location inventory network. In: Journal of the Operational Research Society. 2010 ; Vol. 61. pp. 294-305.

Bibtex

@article{5de79c42f2cc47499f38e4b8e0dc089d,
title = "The use of simple calibrations of the individual locations in making transhipment decisions in a multi-location inventory network",
abstract = "Demands occur at each location in a network of stock-holding retail outlets. Should a location run out of stock between successive replenishments, then subsequent demands may be met either by transshipping from another location in the network or by an emergency supply from a central depot. We deploy an approximate stochastic dynamic programming approach to develop a class of interpretable and implementable heuristics for making transshipment decisions (whether and from where to transship) which make use of simple calibrations of the candidate locations. The calibration for a location depends upon its current stock, the time to its next replenishment and the identity of the location needing stock. A numerical investigation shows strong performance of the proposed policies in comparison with standard industry practice (complete pooling, no pooling) and a recently proposed heuristic. It points to the possibility of substantial cost savings over current practice. ",
author = "Archibald, {T W} and D Black and Glazebrook, {K D}",
year = "2010",
doi = "10.1057/jors.2008.127",
language = "English",
volume = "61",
pages = "294--305",
journal = "Journal of the Operational Research Society",
issn = "1476-9360",
publisher = "Taylor and Francis Ltd.",

}

RIS

TY - JOUR

T1 - The use of simple calibrations of the individual locations in making transhipment decisions in a multi-location inventory network

AU - Archibald, T W

AU - Black, D

AU - Glazebrook, K D

PY - 2010

Y1 - 2010

N2 - Demands occur at each location in a network of stock-holding retail outlets. Should a location run out of stock between successive replenishments, then subsequent demands may be met either by transshipping from another location in the network or by an emergency supply from a central depot. We deploy an approximate stochastic dynamic programming approach to develop a class of interpretable and implementable heuristics for making transshipment decisions (whether and from where to transship) which make use of simple calibrations of the candidate locations. The calibration for a location depends upon its current stock, the time to its next replenishment and the identity of the location needing stock. A numerical investigation shows strong performance of the proposed policies in comparison with standard industry practice (complete pooling, no pooling) and a recently proposed heuristic. It points to the possibility of substantial cost savings over current practice.

AB - Demands occur at each location in a network of stock-holding retail outlets. Should a location run out of stock between successive replenishments, then subsequent demands may be met either by transshipping from another location in the network or by an emergency supply from a central depot. We deploy an approximate stochastic dynamic programming approach to develop a class of interpretable and implementable heuristics for making transshipment decisions (whether and from where to transship) which make use of simple calibrations of the candidate locations. The calibration for a location depends upon its current stock, the time to its next replenishment and the identity of the location needing stock. A numerical investigation shows strong performance of the proposed policies in comparison with standard industry practice (complete pooling, no pooling) and a recently proposed heuristic. It points to the possibility of substantial cost savings over current practice.

U2 - 10.1057/jors.2008.127

DO - 10.1057/jors.2008.127

M3 - Journal article

VL - 61

SP - 294

EP - 305

JO - Journal of the Operational Research Society

JF - Journal of the Operational Research Society

SN - 1476-9360

ER -