Optimal delivery and replenishment policies for perishable products considering lost sale cost: an efficient hybrid algorithm
Article
Article Title | Optimal delivery and replenishment policies for perishable products considering lost sale cost: an efficient hybrid algorithm |
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ERA Journal ID | 3757 |
Article Category | Article |
Authors | Babagolzadeh, Mahla (Author), Pirayesh, Mohammadali (Author) and Shrestha, Anup (Author) |
Journal Title | International Journal of Industrial and Systems Engineering |
Journal Citation | 37 (3), pp. 306-333 |
Number of Pages | 28 |
Year | 2021 |
Place of Publication | United Kingdom |
ISSN | 1748-5037 |
1748-5045 | |
Digital Object Identifier (DOI) | https://doi.org/10.1504/IJISE.2020.10024103 |
Web Address (URL) | https://www.inderscienceonline.com/doi/abs/10.1504/IJISE.2021.113442 |
Abstract | In today’s competitive global market, improving the quality of customer service and waste reduction are two important factors to maximise the profits of a system. These goals can be achieved throughout well-managed logistical operations such as proper inventory management and timely delivery of perishable items to customers. This paper presents an integrated mathematical model that schedules replenishment of a perishable product to determine delivery routes, truck loads and inventory levels, where the vehicle arrival time has a direct impact on the quantity of the product delivered to customers. Given the NP-hard nature of the problem, finding optimum or near optimum solutions in polynomial time is challenging, therefore a hybrid algorithm based on a linear programming model and a simulated annealing algorithm is developed to solve the problem efficiently. The proposed method achieves a solution near-optimal solution in an efficient computational time. Finally, an analysis is carried out to verify the effectiveness of the algorithm. |
Keywords | inventory-routing problem; IRP; lost sale cost; hybrid algorithm; perishable product |
ANZSRC Field of Research 2020 | 401411. Packaging, storage and transportation (excl. food and agricultural products) |
Public Notes | Files associated with this item cannot be displayed due to copyright restrictions. |
Byline Affiliations | School of Commerce |
Ferdowsi University of Mashhad, Iran | |
School of Management and Enterprise | |
Institution of Origin | University of Southern Queensland |
https://research.usq.edu.au/item/q5675/optimal-delivery-and-replenishment-policies-for-perishable-products-considering-lost-sale-cost-an-efficient-hybrid-algorithm
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