Modelling and solving the combined inventory routing problem with risk consideration

Kheiri, Ahmed and Zografos, K. G. (2019) Modelling and solving the combined inventory routing problem with risk consideration. In: UNSPECIFIED.

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Abstract

This work proposes a multi-objective extension of a real-world inventory routing problem (IRP), a generalisation of the classical vehicle routing problem (VRP) with vendor managed inventory (VMI) replenishment. While many mathematical formulations and solution models already exist, this study incorporates business related and risk considerations that makes it unique. It is known that a significant volume of hazardous materials travels every day. Consideration of risks arising from the transportation of hazardous materials as a criterion for selecting distribution routes could potentially reduce the likelihood of accidents and/or the expected consequences of accidents