Multi-period stochastic lateral transshipment problem for rental products
by Koji Aragane; Tomoki Fukuba; Takayuki Shiina
Asian J. of Management Science and Applications (AJMSA), Vol. 6, No. 1, 2021

Abstract: In this study, we employed a multi-period stochastic programming model to examine the lateral transshipment problem of rental products and verified the effectiveness of this model under several assumptions about demand trends. The design and operation of multi-period supply chain networks is a large-scale optimisation problem under uncertainty. Lateral transshipment between bases is effective in improving service levels and in reducing inventory. In this study, we assume that the quantity of demand and length of rentals follow a probability distribution (since it deals with rental products). We construct a scenario tree to consider the uncertainty of rental products in multi-periods using the K-means method. Considering demand trends, we construct three types of scenario trees that represent flat, growth, and decline trends. We demonstrate the effectiveness of the model for each trend through numerical experimentation.

Online publication date: Mon, 25-Oct-2021

The full text of this article is only available to individual subscribers or to users at subscribing institutions.

 
Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.

Pay per view:
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.

Complimentary Subscribers, Editors or Members of the Editorial Board of the Asian J. of Management Science and Applications (AJMSA):
Login with your Inderscience username and password:

    Username:        Password:         

Forgotten your password?


Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.

If you still need assistance, please email subs@inderscience.com