A New Optimal Algorithm for the Joint Replenishment Problem

Abstract

AbstractIn this paper, we propose a new optimal algorithm for the Joint Replenishment Problem. The proposed algorithm can be used to determine the optimal strict-cyclic policy, as well as the optimal among all cyclic policies for the joint replenishment problem. Computational experiments on randomly generated problems reveal that the proposed algorithm performs better than existing optimal algorithms for the problem.Keywords: inventoryjoint-replenishment