In order to solve the problem of dynamic allocation in the multi-location inventory system consisting of a regional distribution center and different front distribution centers, a multi-location inventory dynamic integrated allocation model is established to minimize the total cost, in which the vertical allocation strategy of emergency and prevention, and the emergency lateral transshipment strategy are introduced. Due to the nonlinear characteristics of the model, a whale optimization algorithm embedding greedy emergency lateral transshipment repair strategy (GELTR-WOA) is designed. The effectiveness of the GELTR-WOA is verified through numerical experiments on different scale examples generated from real scenarios. Finally, the influence of emergency lateral transshipment on system operation cost is explored, and the impact of model factors (including unit shortage loss, unit transportation cost, etc.) on the allocation strategy is also analyzed. Consequently, inventory management suggestions for e-commerce enterprises are obtained.