Inventory replenishment planning and staggering
Fayez Fouad Boctor, Marie-Claude Bolduc · IFAC-PapersOnLine · 2015
This paper is the first one to formulate the inventory replenishment problem as a bi-objective one where, in addition to minimizing the sum of order and inventory holding costs, we minimize the required storage space. Also, it develops two new solution methods, called the exploratory method (EM) and the two-population evolutionary algorithm (TPEA). Both methods generate near-optimal Pareto front solutions. As the literature does not provide any method to solve the considered problem, only the results of the two heuristics developed in this paper are compared. The results obtained suggest that both methods produce good Pareto near optimal solutions.