Some Approximations in Multi-Item, Multi-Echelon Inventory Systems for Recoverable Items.

Abstract

Almost a decade ago Sherbrooke formulated the well known METRIC model for determining optimal stock levels for recoverable items for two echelon inventory systems. Subsequently Fox and Landi proposed a Lagrangian approach for obtaining item stock levels for each location. In this paper we develop a method for estimating the value of the optimal Lagrangian multiplier used in the Fox-Landi algorithm present alternative ways for determining system stock levels, and compare these proposed approaches with the Fox-Landi algorithm and other solution techniques. The conclusion of this study is that the proposed approximation methods significantly reduce computation time for determining system stock levels without degrading the quality of the solution. (Author)

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Document Details

Document Type
Technical Report
Publication Date
Sep 01, 1976
Accession Number
ADA037396

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  • John A. Muckstadt

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  • Cornell University College of Engineering

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