Improved Golden-Section Algorithm for the Multi-Item Replenishment Problem

This paper presents a procedure for solving instances of the joint replenishment problem using the golden-section method. The algorithm includes an iterative method for obtaining a narrowing search range for the continuous variable in order to carry out less iterations. We studied the behavior of the algorithm experimentally and made comparisons with the heuristic technique known as RAND, solving randomlygenerated problems. The results showed that the golden-section algorithm with the proposed improvements obtains the optimum solution for up to 100% of the problems solved, it is very stable when faced with the increase in the number of products in the problem and the runtime is notably competitive. The procedure is easy to implement and useful for professionals working in planning.

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