Article1978

THE INTERACTION OF TRANSPORTATION AND INVENTORY DECISIONS

68 citations0/0 files storedDecision Sciences

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Supply Chain and Inventory Management Advanced Manufacturing and Logistics Optimization Logistics and Transportation Systems

Abstract

Abstract The management of inventories and determination of transportation policy are normally carried out by different groups of people in an organization. These activities interact, however, when the transportation is used to replace inventory and when the transportation alternatives have different speed, reliability, and cost characteristics. This paper presents exact and heuristic procedures for jointly determining the inventory reorder points, order quantities, and transportation alternatives that provide minimum total transportation and inventory costs. The effectiveness of each procedure is demonstrated for a broad range of problems. The heuristic procedure was also applied to actual company data to determine the potential for cost savings. The results showed that savings were possible both from improving the current procedures and from applying the procedure developed in this study.

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1962Planning Production, Inventories, and Work Force.1970An Inventory Theoretic Model of Freight Transport Demand

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2005Optimal lot size model for deteriorating items with demand rate dependent on displayed stock level (DSL) and partial backordering 2005Coordination of Inventory and Shipment Consolidation Decisions: A Review of Premises, Models, and Justification 2018Transportation mode selection in inventory models: A literature review 1998The influence of individual cost factors on the use of emergency transshipments 1988Distribution Networks: Facility Location, Transportation and Inventory 2019Integrated transportation – inventory models: A review 2005Designing a consumer products retail chain inventory replenishment policy with the consideration of transportation costs 2012Empirical Evaluation of Economic Order Quantity Model for Choice of Shipment Size in Freight Transport

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