Joongkyu Choi, Jie Cao, H. Edwin Romeijn, Joseph Geunes, Sherman X. Bai
A stochastic multi-item inventory problem with unequal replenishment intervals and limited warehouse capacity
This paper considers stochastic inventory models for multiple
items with unequal replenishment intervals under limited warehouse
capacity. We characterize the optimal replenishment policy for the
two-item, two-period problem. For more general cases, we develop
three heuristics to determine replenishment quantities under
unequal replenishment intervals. Numerical tests of these
heuristics on small instances suggest that they yield good
solutions. The performance of the heuristics is further evaluated
on a number of problems with various cost and demand
parameters.