The operation problem of smart vending machine systems

Abstract

In this paper, we propose a solution for the operation problem of smart vending machine systems with stock-out-based substitution under the replenishment point, order-up-to level inventory policy and conduct computational experiments on test problems in order to evaluate its performance. Furthermore, a sensitivity analysis is carried out to evaluate the effect of customer service level on the system profit using a simulation. © Springer-Verlag Berlin Heidelberg 2013.