Distribution-free approach for stochastic Joint-Replenishment Problem with backorders-lost sales mixtures, and controllable major ordering cost and lead times
We study the Joint-Replenishment Problem with stochastic demands. The developed model takes into account mixtures of backorders and lost sales. We assume that major ordering cost and lead times are controllable. We adopt the minimax distribution-free procedure. We propose three alternative algorithms to approach the optimization problem.