A review and classification of heuristic algorithms for the inventory routing problem

Sofianopoulou, Stella and Mitsopoulos, Ioannis (2018) A review and classification of heuristic algorithms for the inventory routing problem. International Journal of Operational Research. ISSN 1745-7653 (In Press)

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Abstract

The inventory routing problem (IRP) is an integration of vehicle
routing and inventory management problems. In the recent years, it has
increasingly drawn the attention of the researchers because of its potentially
significant practical value. The IRP is classified as NP-hard problem since it
subsumes the vehicle routing problem (VRP). This fact led to the development
of many heuristic or metaheuristic approaches, although a small number of
exact methods have been introduced recently. Heuristic methods offer the
advantage of shorter time scales, i.e., greater computational efficiency, on the
expense of course of the accuracy of the results. The immediate trigger for this
study is our concern about results validation, which has been debatable in early
papers, and only recently a systematic effort to create a set of optimally solved
benchmark instances has been made. This article presents the heuristic methods
for solving the basic variants of IRP found in the literature, stressing the
computational results and the solution verification approach, rather than the
methodology of the algorithms. The paper concludes with a discussion on the
quality of the performance assessment of the proposed algorithms.

Item Type: Article
Subjects: Business and Management > Business and Management
Divisions: Faculty of Business, Law and Tourism
Depositing User: Stella Sofianopoulou
Date Deposited: 20 Dec 2018 15:08
Last Modified: 20 May 2019 11:30
URI: http://sure.sunderland.ac.uk/id/eprint/10187

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