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August 30, 2024Management Science

The Continuous-Time Joint Replenishment Problem: ϵ-Optimal Policies via Pairwise Alignment

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Authors

DSDanny Segev

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Overview

Theoretical analysis demonstrates epsilon-optimal policies in continuous-time joint replenishment systems, highlighting a resolution to a classical computational complexity question.

Key Points

  • A pairwise alignment framework provides an efficient polynomial-time approximation scheme for the continuous-time joint replenishment problem, settling its complexity.
  • The combinatorial algorithm delivers the first quantitative improvement since the mid-1980s over standard power-of-2 policies, achieving arbitrary precision.
  • Theoretical model synchronizes multiple economic order quantity models under pairwise alignment, resolving computational complexity for optimal inventory control.

Cite This Study

Danny Segev (2024) studied this question.

synapsesocial.com/papers/68e5a2c4b6db64358753d55fhttps://doi.org/10.1287/mnsc.2023.00705
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