Name
Abstract | ||
|---|---|---|
The stochastic inventory routing problem involves the distribution of a commodity such as heating oil over a long period of time to a large set of customers. The customers maintain a local inventory of the commodity which they consume at a daily rate. Their consumption varies daily and seasonally and their exact demand is known only upon the arrival of the delivery vehicle. This paper presentes a detailed analysis of this problem incorporating the stochastic nature of customers' consumptions and the possibility of route failures when the actual demand on a route exceeds the capacity of a vehicle. A number of solution procedures are compared on a large set of real life data for a period of 12 consecutive weeks. The winning strategy, though computationally more expensive, provides the best system performance and reduces (almost eliminates) the stockout phenomena. |
Year | DOI | Venue |
|---|---|---|
1992 | 10.1287/trsc.26.3.171 | Transportation Science |
Keywords | Field | DocType |
stochastic processes,planning,optimization,methodology,mathematical model,method,calculation,stochastic process,inventory,mathematical models,optimum | Mathematical optimization,Economics,Commodity,Inventory routing problem,Stochastic process,Inventory control,Heating oil,Stochastic modelling,Stock (geology),Operations management,Stockout | Journal |
Volume | Issue | ISSN |
26 | 3 | 0041-1655 |
Citations | PageRank | References |
30 | 3.38 | 2 |
Authors | ||
2 | ||
Name | Order | Citations | PageRank |
|---|---|---|---|
| P. Trudeau | 1 | 335 | 31.81 |
| Moshe Dror | 2 | 574 | 64.77 |