We develop an algorithm for determining the highest among the class of lower bounds proposed by Atkins and Iyogun (1988) for the joint replenishment problem (JRP) with stochastic demands. The proposed algorithm is simple and does not require many more calculations than an existing lower bound based on equalization of expected runout times.
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Huazhong Univ Sci & Technol, Sch Management, Wuhan 430074, Peoples R China
City Univ Hong Kong, Dept Management Sci, Kowloon Tong, Hong Kong, Peoples R ChinaHuazhong Univ Sci & Technol, Sch Management, Wuhan 430074, Peoples R China
Cui, Ligang
Wang, Lin
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Huazhong Univ Sci & Technol, Sch Management, Wuhan 430074, Peoples R ChinaHuazhong Univ Sci & Technol, Sch Management, Wuhan 430074, Peoples R China
Wang, Lin
Deng, Jie
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Huazhong Univ Sci & Technol, Sch Management, Wuhan 430074, Peoples R ChinaHuazhong Univ Sci & Technol, Sch Management, Wuhan 430074, Peoples R China
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Winthrop Univ, Dept Comp Sci & Quantitat Methods, Coll Business Adm, Rock Hill, SC 29733 USAWinthrop Univ, Dept Comp Sci & Quantitat Methods, Coll Business Adm, Rock Hill, SC 29733 USA