Abstract :
The multi-buyer joint replenishment problem (MJRP) is the multi-item inventory problem of coordinating the
replenishment of a group of items that are jointly ordered from a single supplier. Joint replenishment of a group of
items reduces cost by decreasing the number of times that the major ordering cost is charged. The objective of
MJRP is to develop inventory policies minimizing the total costs over the planning horizon. The single buyer joint
replenishment problem may be solved by techniques using the collectively described as the best available
heuristics (e.g. Simulated Annealing, Genetic Procedures, Tabu Search, and others), collectively discussed as the
RAND method. In this paper, we propose a new efficient RAND method to solve MJRP.
