Analysis and Solution Developement of the Single-Vehicle Inventory Routing Problem
The inventory routing problem (IRP) is a challenging optimization problem underlying the vendor managed inventory policy. In this paper, we focus on a particular case of this problem, namely, the long-term single-vehicle IRP with stable demand rates. The objective is thus to develop an optimal cyclical distribution plan, of a single product, from a single distribution center to a set of selected customers. After an analysis of the problem’s features, we propose and discuss a hybrid approximation algorithm to solve the problem. The approach is then tested on some randomly generated problems to evaluate its performance.
KeywordsCycle Time Demand Rate Vendor Manage Inventory Inventory Rout Problem Minimal Cycle Time
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