A Greedy Primal-Dual Type Heuristic to Select an Inventory Control Policy

Esmaili, N; Norman, B; Rajgopal, J

A Greedy Primal-Dual Type Heuristic to Select an Inventory Control Policy

Esmaili, N Norman, B Rajgopal, J

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Publisher:: Springer
Publication Type:: Chapter
Citation:: Engineering Systems and Networks, 2017
Issue Date:: 2017

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Field	Value	Language
dc.contributor.author	Esmaili, N
dc.contributor.author	Norman, B
dc.contributor.author	Rajgopal, J
dc.date.accessioned	2022-11-29T00:22:27Z
dc.date.available	2022-11-29T00:22:27Z
dc.date.issued	2017
dc.identifier.citation	Engineering Systems and Networks, 2017
dc.identifier.isbn	978-3-319-45746-8
dc.identifier.uri	http://hdl.handle.net/10453/163802
dc.description.abstract	We propose a greedy primal-dual type heuristic to jointly optimize the selection of an inventory control policy and the allocation of shelf space in order to minimize the expected counting and replenishment costs, while accounting for space limitations. The problem is motivated by an application in the healthcare sector. It addresses the limitations in designing an inventory control system for hospitals stockrooms and the drawbacks of the common approach of using a single policy such as a two-bin Kanban or a Periodic Automatic Replenishment (PAR) system for all items. In the proposed approach, we not only choose policies to use available storage space more efficiently but also consider changing the policies or their parameters to use the space within a selected storage bin more efficiently. On numerical examples where a mathematical programming formulation can be solved in a reasonable amount of time, our experiments indicate that the proposed algorithm is very efficient.
dc.language	en
dc.publisher	Springer
dc.relation.ispartof	Engineering Systems and Networks
dc.relation.isbasedon	10.1007/978-3-319-45748-2_9
dc.rights	info:eu-repo/semantics/closedAccess
dc.title	A Greedy Primal-Dual Type Heuristic to Select an Inventory Control Policy
dc.type	Chapter
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Engineering and Information Technology
pubs.organisational-group	/University of Technology Sydney/Faculty of Engineering and Information Technology/School of Electrical and Data Engineering
utslib.copyright.status	closed_access	*
pubs.consider-herdc	false
dc.date.updated	2022-11-29T00:22:26Z
pubs.place-of-publication	Switzerland
pubs.publication-status	Published
dc.location	Switzerland

Abstract:

We propose a greedy primal-dual type heuristic to jointly optimize the selection of an inventory control policy and the allocation of shelf space in order to minimize the expected counting and replenishment costs, while accounting for space limitations. The problem is motivated by an application in the healthcare sector. It addresses the limitations in designing an inventory control system for hospitals stockrooms and the drawbacks of the common approach of using a single policy such as a two-bin Kanban or a Periodic Automatic Replenishment (PAR) system for all items. In the proposed approach, we not only choose policies to use available storage space more efficiently but also consider changing the policies or their parameters to use the space within a selected storage bin more efficiently. On numerical examples where a mathematical programming formulation can be solved in a reasonable amount of time, our experiments indicate that the proposed algorithm is very efficient.

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http://hdl.handle.net/10453/163802