An index heuristic for transshipment decisions in multi-location inventory systems based on a pairwise decomposition

@article{Archibald2009AnIH,
  title={An index heuristic for transshipment decisions in multi-location inventory systems based on a pairwise decomposition},
  author={Thomas W. Archibald and D. P. Black and Kevin D. Glazebrook},
  journal={European Journal of Operational Research},
  year={2009},
  volume={192},
  pages={69-78}
}
In multi-location inventory systems, transshipments are often used to improve customer service and reduce cost. Determining optimal transshipment policies for such systems involves a complex optimisation problem that is only tractable for systems with few locations. Consequently simple heuristic transshipment policies are often applied in practice. This paper develops an approximate solution method which applies decomposition to reduce a Markov decision process model of a multi-location… CONTINUE READING
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