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Combining Monte-Carlo simulation with heuristics for solving the inventory routing problem with stochastic demands

Author
Cáceres-Cruz, J.; Juan, A.; Bektas, T.; Grasman, S.; Faulín, F.
Type of activity
Presentation of work at congresses
Name of edition
2012 Winter Simulation Conference
Date of publication
2012
Presentation's date
2012
Book of congress proceedings
Proceedings of the 2012 Winter Simulation Conference
First page
1
Last page
9
Repository
http://hdl.handle.net/2117/17465 Open in new window
Abstract
In this paper, we introduce a simulation-based algorithm for solving the single-period Inventory Routing Problem (IRP) with stochastic demands. Our approach, which combines simulation with heuristics, considers different potential inventory policies for each customer, computes their associated inventory costs according to the expected demand in the period, and then estimates the marginal routing savings associated with each customer-policy entity. That way, for each customer it is possible to ra...
Citation
Cáceres-Cruz, J. [et al.]. Combining Monte-Carlo simulation with heuristics for solving the inventory routing problem with stochastic demands. A: Winter Simulation Conference. "Proceedings of the 2012 Winter Simulation Conference". Berlín: 2012, p. 1-9.

Participants

  • Cáceres Cruz, José  (author and speaker )
  • Juan Perez, Angel Alejandro  (author and speaker )
  • Bektas, Tolga  (author and speaker )
  • Grasman, Scott  (author and speaker )
  • Faulín Fajardo, Francisco Javier  (author and speaker )