Model and heuristic algorithm of the joint replenishment problem with complete backordering and correlated demand

@inproceedings{Zhang2015ModelAH,
  title={Model and heuristic algorithm of the joint replenishment problem with complete backordering and correlated demand},
  author={Renqian Zhang and Ikou Kaku and Yiyong Xiao},
  year={2015}
}
In practice, demands for items are often correlated with each other because of cross-selling effects. Traditional inventory models hold the assumption that demands are independent, which may lead to the risk of misestimating the inventory cost of associated items. This paper addresses a multi-item inventory system where demands for some minor items are correlated with that for a major item. Because of the cross-selling, demand for minor items may either be raised by the sales of the major item… CONTINUE READING

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