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A math-heuristic approach for two echelon vendor managed inventory routing problem

Title	A math-heuristic approach for two echelon vendor managed inventory routing problem
Author	Aydın, Mehmet Can, Yavuz, Utku, Özver, Alp Orhan, Akçıl, Yarkın, Özmen, Çağla Deniz, Erol, Aslı
Publication Date:	2021
Publication Place	- IEOM Society
Subject	Clustering, Inventory routing problem, Math-heuristics, Vendor managed inventory
Type	Document
Language	English
Digital	Yes
Manuscript	No
Library:	Özyeğin University
Library Asset ID	978-179236127-2
Record ID	4a1ba123-af18-4974-959a-7cc9cf378ec0
Date	2021
Sample Text	This paper studies a two-echelon vendor managed inventory routing problem of a honey packager company that delivers packaged products from a single facility to multiple retailers and customers. The objective is creating a supply chain which minimizes the total distribution cost while satisfying customers’ demand on time through retailers. The complex nature of the problem originates from connecting the inventory management and the routing process which makes getting an exact solution to the problem difficult. We propose a mathematical optimization model and develop a three-step clustering-based math-heuristic algorithm to solve the problem since commercial solvers fail to provide high-quality solutions within a given time limit. The performance of the algorithm is tested with randomly generated dimensions. The algorithm yields (on average) 16% improvement compared to objective value performances of the commercial solver.

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Özyeğin University

A math-heuristic approach for two echelon vendor managed inventory routing problem

Author Aydın, Mehmet Can, Yavuz, Utku, Özver, Alp Orhan, Akçıl, Yarkın, Özmen, Çağla Deniz, Erol, Aslı

Publication Date 2021

Publication Place - IEOM Society

Subject Clustering, Inventory routing problem, Math-heuristics, Vendor managed inventory

Type Document

Language English

Digital Yes

Manuscript No

Library Özyeğin University

Library Asset ID 978-179236127-2

Record ID 4a1ba123-af18-4974-959a-7cc9cf378ec0

Date 2021

Sample Text This paper studies a two-echelon vendor managed inventory routing problem of a honey packager company that delivers packaged products from a single facility to multiple retailers and customers. The objective is creating a supply chain which minimizes the total distribution cost while satisfying customers’ demand on time through retailers. The complex nature of the problem originates from connecting the inventory management and the routing process which makes getting an exact solution to the problem difficult. We propose a mathematical optimization model and develop a three-step clustering-based math-heuristic algorithm to solve the problem since commercial solvers fail to provide high-quality solutions within a given time limit. The performance of the algorithm is tested with randomly generated dimensions. The algorithm yields (on average) 16% improvement compared to objective value performances of the commercial solver.