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An Optimal Policy for the Dynamic Transportation-Inventory Model with Deteriorating Items

Hark Hwang, Kwon-Ik Sohn

Open publisher page 3 citations

Abstract

This paper addresses the dynamic lot sizing problem of a Wagner-Whitin type in which the transportation mode as well as the order size of a deteriorating product are considered simultaneously. The problem is presented in a forward formulation. An algorithm is developed which utilizes properties of the optimal solution and planning horizon procedure. An actual case involving palm oil industry is solved and the algorithm is shown to be efficient in computation.

About this research paper

What this paper is about

This paper addresses the dynamic lot sizing problem of a Wagner-Whitin type in which the transportation mode as well as the order size of a deteriorating product are considered simultaneously. The problem is presented in a forward formulation. An algorithm is developed which utilizes properties of the optimal solution and planning horizon procedure. An actual case involving palm oil industry is solved and the algorithm is shown to be efficient in computation.

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OpenAlex reports 3 citations for this work. Citation counts describe recorded attention and do not establish research quality.

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Available abstract

This paper addresses the dynamic lot sizing problem of a Wagner-Whitin type in which the transportation mode as well as the order size of a deteriorating product are considered simultaneously. The problem is presented in a forward formulation. An algorithm is developed which utilizes properties of the optimal solution and planning horizon procedure. An actual case involving palm oil industry is solved and the algorithm is shown to be efficient in computation.

Key concepts: Sizing, Computation, Mathematical optimization, Product (mathematics), Economic order quantity, Palm oil, Order (exchange), Time horizon

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