Stochastic Multi-item Joint Replenishment Problem Considering Trade Creditunder China-Europe Trade
With the uncertainties increase in market demands,fragmentary orders are becoming common practices in foreign trade between China and Europe,which brings great pressure on choosing the best transportation means for traders replenishing multi-items.Based on the fast development of China-Europe railway express(CERE),it provides a new option for transportation mode selection after CERE by passing its survival stage.Facing orders with many varieties and small batches,China-Europe businesses traders can make synthetically and flexible decisions between maritime and train transportations based on the time sensitivities of commodities in market and time consuming in transportation.In academic,joint replenishment problem(JRP)is the research area that dealing with multi-item joint replenishment and transportation.Therefore,under China-Europe trade circumstance,the stochastic demand JRP is expanded by considering trade credit during the transportation period in CERE.In specific,with the objective of minimum total cost,by considering the time cost of lead-time and assuming the trade credit is introduced to the business trader,a novel stochastic JRP model with trade credit during the period of CERE transportation is constructed,in which 0-1 decision variables are utilized to control whether a transportation mode is selected.In light of the NP-hard nature of JRP,a new hybrid differential lightning search algorithm(DLSA)is developed to solve the proposed JRP.In numerical experiments,the best combination of searching parameters,the searching stableness and effectiveness of DLSA have been analyzed.Through experimenting on different scale of JRP cases,DLSA shows the best stableness and searching effectiveness comparing to DE,BBDE and LSA in solving SJRP and JRP-T but with the worse searching efficiency.Managerial insights are obtained:(1)Trade credit not only helps traders positively response to the trends of small orders and replenishment increasing,but also shortens retailers'replenishment lead-time.(2)Under a specific transportation mode,traders are inclined to choose carriers with lower prices than those with shorter transportation time.(3)From the perspective of traders,it is confirmed that the best strategy for improving the competitiveness of CERE in the short term is adopting a lower freight transportation rate.(4)Government plays a vital role in promoting CERE development,especially for CERE at different maturity stages.
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