The Deterministic, Two-Product, Inventory System with Capacity Constraint

Roger Hartley · Lyn C. Thomas

33 citations0/0 files storedJournal of the Operational Research Society

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Supply Chain and Inventory Management Management and Optimization Techniques Optimization and Mathematical Programming

Abstract

This paper considers the standard deterministic inventory system for two products with a capacity constraint and describes how to find the optimal policy amongst all policies which have fixed order quantities. This involves the idea of staggered initial orders and periodic policies, and includes the classical Lagrange multiplier technique and the equal order intervals method as special cases. It is shown that the usual Lagrange multiplier technique will never produce the optimal policy (in the class described above) except in the trivial case, when the capacity constraint is satisfied by the optimal unconstrained policy.

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1964Analysis of Inventory Systems.1976Multi-Product Inventory Situations with One Restriction 1977Deterministic Multi-Item Inventory Systems with Limited Capacity 1978A Note on "Multi-Product Inventory Situations with One Restriction"

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2005Multi-product batch replenishment strategies under stochastic demand and a joint capacity constraint 1983An Algorithm for Limited Capacity Inventory Problem with Staggering 2006Production and inventory management under multiple resource constraints 1992The complexity of the staggering problem, and other classical inventory problems 1993Constrained multi-item inventory systems: An implicit approach 1990Heuristic Procedures for Multi-Item Inventory Planning with Limited Storage 2008Dynamic pricing and replenishment in the warehouse scheduling problem—A common cycle approach 2009Offsetting inventory replenishment cycles to minimize storage space

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