Solving a continuous periodic review inventory-location allocation problem in vendor-buyer supply chain under uncertainty

•A mixed-integer binary non-linear supply chain problem is formulated where the demands are stochastic.•The problem is formulated to be a combination of an (r,Q) and periodic review policies.•The aim is to find the optimal order quantities and the optimal placement of the vendors such that the costs are minimized.•A Genetic Algorithm and Particle Swarm Optimization are used.