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An eclectic approach for replenishment with non-linear decreasing demand

Zhao, G Q and Rand, G K and Yang, J (2003) An eclectic approach for replenishment with non-linear decreasing demand. Working Paper. The Department of Management Science, Lancaster University.

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Abstract

Following the pattern of our previous work, which has dealt with linear increasing and decreasing demand and non-linear increasing demand, a parametric eclectic model has been developed for a non-linearly decreasing demand pattern. Alternative replenishment plans can be generated if the parameter vector is adjusted within a certain range. Using the eclectic approach the best result is chosen. For 12 examples, calculations based on three established heuristics, Silvers method, CLUC, and CTPP produced an average percentage increase in cost above that of our eclectic heuristic algorithm of 4.8%, 3.4% and 3.2% respectively.

Item Type: Monograph (Working Paper)
Uncontrolled Keywords: inventory ; replenishment ; non-linear decreasing demand ; eclectic algorithm
Subjects:
Departments: Lancaster University Management School > Management Science
ID Code: 48641
Deposited By: ep_importer_pure
Deposited On: 11 Jul 2011 22:04
Refereed?: No
Published?: Published
Last Modified: 27 Jul 2012 01:11
Identification Number:
URI: http://eprints.lancs.ac.uk/id/eprint/48641

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