Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
6897261 | European Journal of Operational Research | 2014 | 26 Pages |
Abstract
In this paper we address the issue of vendor managed inventory (VMI) by considering a two-echelon single vendor/multiple buyer supply chain network. We try to find the optimal sales quantity by maximizing profit, given as a nonlinear and non-convex objective function. For such complicated combinatorial optimization problems, exact algorithms and optimization commercial software such as LINGO are inefficient, especially on practical-size problems. In this paper we develop a hybrid genetic/simulated annealing algorithm to deal with this nonlinear problem. Our results demonstrate that the proposed hybrid algorithm outperforms previous methodologies and achieves more robust solutions.
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Physical Sciences and Engineering
Computer Science
Computer Science (General)
Authors
Ali Diabat,