Abstract:

A multi-item and multi-location inventory model is formed for low-demand service parts with waiting time constraints. In the inventory system, the continuous-review policy is used. The goal is to look for an optimal stock for each local warehouse under the target service which is presented by aggregate mean waiting time constraints per local warehouse. Finally, MATLAB genetic algorithm toolbox is used to solve for the model and a numerical example is presented to demonstrate the validity of the model.
 

Key words: service parts; lateral transshipment; multi-echelon inventory; waiting time constraints; genetic algorithm