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Improved approximation algorithms for inventory problems

Bosman, Thomas and Olver, Neil (2020) Improved approximation algorithms for inventory problems. In: Bienstock, Daniel and Zambelli, Giacomo, (eds.) Integer Programming and Combinatorial Optimization - 21st International Conference, IPCO 2020, Proceedings. Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics). Springer, GBR, pp. 91-103. ISBN 9783030457709

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Identification Number: 10.1007/978-3-030-45771-6_8

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 [Formula Presented]; this improves exponentially on the previous best results.

Item Type: Book Section
Divisions: Mathematics
Date Deposited: 26 May 2020 14:30
Last Modified: 29 Jun 2020 23:07
URI: http://eprints.lse.ac.uk/id/eprint/104584

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