GREEDYALGORITHM FOR INVENTORY ROUTING PROBLEM IN A SUPPLY CHAIN-A Review

Inventory routing problem (IRP) is one of the emerging solutions for improving the supply chain efficiency. It gives the vendors the responsibility to monitor and decide the inventory replenishments of their customers. The Inventory Routing Problem (IRP) is an evolved component of VMI policies. Inve...

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Bibliographic Details
Published in:Materials today : proceedings 2019, Vol.16, p.1055-1060
Main Authors: Thinakaran, N., Jayaprakash, J., Elanchezhian, C.
Format: Article
Language:English
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Summary:Inventory routing problem (IRP) is one of the emerging solutions for improving the supply chain efficiency. It gives the vendors the responsibility to monitor and decide the inventory replenishments of their customers. The Inventory Routing Problem (IRP) is an evolved component of VMI policies. Inventory routing provides a win-win situation for both vendors and customers. In this paper we consider a one or more distribution network consisting of a single depot and many geographically dispersed customers where each customer faces demands for a single item which, arise at a deterministic and customer-specific rate. The problem addressed in this paper is based on a finite horizon, multi- period and single product where a fleet of capacitated vehicles transport items from the depot to meet the demand specified by the customers for each period. Here a greedy algorithm is used for finding an optimal route and routing cost associated with it, finding an inventory and transportation cost that minimizes the total coste.
ISSN:2214-7853
2214-7853
DOI:10.1016/j.matpr.2019.05.195