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Optimizing storage capacity of retailers in stochastic periodic inventory routing problem

Ehsan Yadollahi (UGent) , El-Houssaine Aghezzaf (UGent) , Joris Walraevens (UGent) and Birger Raa (UGent)
(2018) p.217-223
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Abstract
A challenging question in Stochastic Periodic Inventory Routing Problem (SPIRP) is how to deal with stochastic demand rates, while minimizing the costs (transportation, inventory, and storage) and finding the best routing system. In this paper, we reformulate the SPIRP model to a safety stock-based SPIRP where the inventory storage capacity at the retailers are considered as variables and retailer’s demand rate is stochastic. The supply chain planner needs to find the best routing system to replenish the retailers with the most optimum level of inventory, while the service level is satisfied in a long term planning horizon. Four different policies for storage capacity optimization are presented, evaluated, and compared in an illustrative example. The impact of storage capacity limitation is considered based on the defined policies to measure their compatibility for different situations.
Keywords
Safety Stock, Storage Capacity Limitation, Stochastic Demands, Inventory Routing Problem

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Please use this url to cite or link to this publication:

MLA
Yadollahi, Ehsan et al. “Optimizing Storage Capacity of Retailers in Stochastic Periodic Inventory Routing Problem.” SCITEPRESS - Science and Technology Publications, 2018. 217–223. Print.
APA
Yadollahi, E., Aghezzaf, E.-H., Walraevens, J., & Raa, B. (2018). Optimizing storage capacity of retailers in stochastic periodic inventory routing problem (pp. 217–223). Presented at the 7th International Conference on Operations Research and Enterprise Systems, SCITEPRESS - Science and Technology Publications.
Chicago author-date
Yadollahi, Ehsan, El-Houssaine Aghezzaf, Joris Walraevens, and Birger Raa. 2018. “Optimizing Storage Capacity of Retailers in Stochastic Periodic Inventory Routing Problem.” In , 217–223. SCITEPRESS - Science and Technology Publications.
Chicago author-date (all authors)
Yadollahi, Ehsan, El-Houssaine Aghezzaf, Joris Walraevens, and Birger Raa. 2018. “Optimizing Storage Capacity of Retailers in Stochastic Periodic Inventory Routing Problem.” In , 217–223. SCITEPRESS - Science and Technology Publications.
Vancouver
1.
Yadollahi E, Aghezzaf E-H, Walraevens J, Raa B. Optimizing storage capacity of retailers in stochastic periodic inventory routing problem. SCITEPRESS - Science and Technology Publications; 2018. p. 217–23.
IEEE
[1]
E. Yadollahi, E.-H. Aghezzaf, J. Walraevens, and B. Raa, “Optimizing storage capacity of retailers in stochastic periodic inventory routing problem,” presented at the 7th International Conference on Operations Research and Enterprise Systems, Madeira, Portugal, 2018, pp. 217–223.
@inproceedings{8547616,
  abstract     = {A challenging question in Stochastic Periodic Inventory Routing Problem (SPIRP) is how to deal with
stochastic demand rates, while minimizing the costs (transportation, inventory, and storage) and finding the
best routing system. In this paper, we reformulate the SPIRP model to a safety stock-based SPIRP where the
inventory storage capacity at the retailers are considered as variables and retailer’s demand rate is stochastic.
The supply chain planner needs to find the best routing system to replenish the retailers with the most optimum
level of inventory, while the service level is satisfied in a long term planning horizon. Four different policies
for storage capacity optimization are presented, evaluated, and compared in an illustrative example. The
impact of storage capacity limitation is considered based on the defined policies to measure their compatibility
for different situations.},
  author       = {Yadollahi, Ehsan and Aghezzaf, El-Houssaine and Walraevens, Joris and Raa, Birger},
  isbn         = {9789897582851},
  keywords     = {Safety Stock,Storage Capacity Limitation,Stochastic Demands,Inventory Routing Problem},
  language     = {eng},
  location     = {Madeira, Portugal},
  pages        = {217--223},
  publisher    = {SCITEPRESS - Science and Technology Publications},
  title        = {Optimizing storage capacity of retailers in stochastic periodic inventory routing problem},
  url          = {http://dx.doi.org/10.5220/0006620302170223},
  year         = {2018},
}

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