Improved approximation algorithms for inventory problems

DOI10.1007/978-3-030-45771-6_8MaRDI QIDQ5041737zbMATH OpenOpenAlexFDO

Authors Thomas Bosman, Neil Olver

Publication date 14 October 2022

Published in Integer Programming and Combinatorial Optimization (Search for Journal in Brave)

Full work available at URL https://arxiv.org/abs/1912.00101

zbMATH Keywords

approximation algorithmsinventoryiterative rounding

Mathematics Subject Classification ID

Approximation algorithms (68W25) Inventory, storage, reservoirs (90B05) Production models (90B30)

Abstract: We give new approximation algorithms for the submodular joint replenishment problem and the inventory routing problem, using an iterative rounding approach. In both problems, we are given a set of $N$ items and a discrete time horizon of $T$ days in which given demands for the items must be satisfied. Ordering a set of items incurs a cost according to a set function, with properties depending on the problem under consideration. Demand for an item at time $t$ can be satisfied by an order on any day prior to $t$, but a holding cost is charged for storing the items during the intermediate period; the goal is to minimize the sum of the ordering and holding cost. Our approximation factor for both problems is $O(loglogmin(N,T))$; this improves exponentially on the previous best results.

Recommendations

• Approximation algorithms for inventory problems with submodular or routing costs
• The submodular joint replenishment problem
• Primal-Dual Algorithms for Deterministic Inventory Problems
• Better Approximation Bounds for the Joint Replenishment Problem
• Approximation algorithms and hardness results for the joint replenishment problem with constant demands

Cites work

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• Approximation algorithms for inventory problems with submodular or routing costs
• Better Approximation Bounds for the Joint Replenishment Problem
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Cited in

(7)

• Multistage Lot Sizing Problems via Randomized Rounding
• Primal-Dual Algorithms for Deterministic Inventory Problems
• The submodular joint replenishment problem
• Approximation algorithms for inventory problems with submodular or routing costs
• An o( n)-approximation for submodular facility location
• Integrated supply chain management via randomized rounding
• Joint replenishment meets scheduling

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