A multiobjective optimization method for strategic sourcing and inventory replenishment

Author

Ding, Hongwei ; Benyoucef, Lyes ; Xie, Xiaolan

Author_Institution

Res. in Comput. Sci. & Control, INRIA, Metz, France

Volume

3

fYear

2004

fDate

26 April-1 May 2004

Firstpage

2711

Abstract

A simulation-based multiobjective optimization method is proposed in this paper for joint decision-making on strategic sourcing and inventory replenishment. More specifically, a multiobjective genetic algorithm is developed to determine the optimal supplier portfolio and inventory control parameters in order to reach best compromise of two conflicting criteria: costs and demand fill-rate. Discrete-event simulation is used to provide faithful evaluation of these two criteria. Numerical results on a variant of a real case study are presented.

Keywords

decision making; discrete event simulation; genetic algorithms; stock control; supply chain management; supply chains; discrete event simulation; inventory control parameter; inventory replenishment; joint decision-making; multiobjective genetic algorithm; multiobjective optimization; optimal supplier portfolio; strategic sourcing; Computational modeling; Computer science; Cost function; Decision making; Genetic algorithms; Inventory control; Inventory management; Optimization methods; Portfolios; Supply chains;

fLanguage

English

Publisher

ieee

Conference_Titel

Robotics and Automation, 2004. Proceedings. ICRA '04. 2004 IEEE International Conference on

ISSN

1050-4729

Print_ISBN

0-7803-8232-3

Type

conf

DOI

10.1109/ROBOT.2004.1307470

Filename

1307470