Managing inventory in a network: Performance bounds for simple policies

Deniz Akturk

doi:10.1016/j.orl.2022.03.003

Managing inventory in a network: Performance bounds for simple policies

Deniz Akturk

Research output: Contribution to journal › Article › peer-review

2 Scopus citations

Abstract

We consider the joint optimization of rebalancing/sourcing inventory on a graph. We focus on the lost-sales setting with customer induced relocations. Through a coupling analysis, we provide worst-case performance bounds, with tight instances, for policies commonly used in practice. We provide further insights on the performance of these policies and discuss cost regimes where they are effective.

Original language	English
Pages (from-to)	315-321
Number of pages	7
Journal	Operations Research Letters
Volume	50
Issue number	3
DOIs	https://doi.org/10.1016/j.orl.2022.03.003
State	Published - May 2022

Keywords

Coupling analysis
Inventory rebalancing
Performance bounds
Reusable resources
Sharing economy

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10.1016/j.orl.2022.03.003

Cite this

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title = "Managing inventory in a network: Performance bounds for simple policies",

abstract = "We consider the joint optimization of rebalancing/sourcing inventory on a graph. We focus on the lost-sales setting with customer induced relocations. Through a coupling analysis, we provide worst-case performance bounds, with tight instances, for policies commonly used in practice. We provide further insights on the performance of these policies and discuss cost regimes where they are effective.",

keywords = "Coupling analysis, Inventory rebalancing, Performance bounds, Reusable resources, Sharing economy",

author = "Deniz Akturk",

note = "Publisher Copyright: {\textcopyright} 2022 Elsevier B.V.",

year = "2022",

month = may,

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AU - Akturk, Deniz

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N2 - We consider the joint optimization of rebalancing/sourcing inventory on a graph. We focus on the lost-sales setting with customer induced relocations. Through a coupling analysis, we provide worst-case performance bounds, with tight instances, for policies commonly used in practice. We provide further insights on the performance of these policies and discuss cost regimes where they are effective.

AB - We consider the joint optimization of rebalancing/sourcing inventory on a graph. We focus on the lost-sales setting with customer induced relocations. Through a coupling analysis, we provide worst-case performance bounds, with tight instances, for policies commonly used in practice. We provide further insights on the performance of these policies and discuss cost regimes where they are effective.

KW - Coupling analysis

KW - Inventory rebalancing

KW - Performance bounds

KW - Reusable resources

KW - Sharing economy

UR - https://www.scopus.com/pages/publications/85127532943

U2 - 10.1016/j.orl.2022.03.003

DO - 10.1016/j.orl.2022.03.003

M3 - Article

AN - SCOPUS:85127532943

SN - 0167-6377

VL - 50

SP - 315

EP - 321

JO - Operations Research Letters

JF - Operations Research Letters

IS - 3

ER -

Managing inventory in a network: Performance bounds for simple policies

Abstract

Keywords

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