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An Effective Lateral Transhipment Model for A Multi-Location Inventory Setting to Minimize

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dc.contributor.author Kumari, A.G.K.C.
dc.contributor.author Wijayanayake, A. N.
dc.contributor.author Niwunhella, D. H. H.
dc.date.accessioned 2022-10-31T09:26:47Z
dc.date.available 2022-10-31T09:26:47Z
dc.date.issued 2022
dc.identifier.citation Kumari A.G.K.C.; Wijayanayake A. N.; Niwunhella D. H. H. (2022), An Effective Lateral Transhipment Model for A Multi-Location Inventory Setting to Minimize, International Research Conference on Smart Computing and Systems Engineering (SCSE 2022), Department of Industrial Management, Faculty of Science, University of Kelaniya Sri Lanka. 225-230. en_US
dc.identifier.uri http://repository.kln.ac.lk/handle/123456789/25432
dc.description.abstract Managing inventory levels to ensure on-shelf availability of products is a challenge that retailers face on a daily basis. Even though it is desirable to have additional inventory to ensure the availability of products, it increases the inventory holding cost. Hence, retailers use lateral transhipment as a method to redistribute inventory from a location which has excess inventory to another outlet which faces / will face stockouts. This paper proposes a mathematical model to minimize the total cost through proactive lateral transhipment while reducing the stockouts, significantly. A multi-item, multi-location inventory system was considered, and a cost minimization model was developed based on the tradeoff between the potential gain and the transhipment cost. The model was implemented using Python programming language and validated using a real-world data set from one of the leading supermarket chains. The results from the model have shown that it can reduce the total cost and stockout occurrences significantly. en_US
dc.publisher Department of Industrial Management, Faculty of Science, University of Kelaniya Sri Lanka en_US
dc.subject inventory management, lateral transhipment, proactive transhipment, retail industry en_US
dc.title An Effective Lateral Transhipment Model for A Multi-Location Inventory Setting to Minimize en_US


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