Title :
A new approach in supply chain modeling
Author :
Pazoki, M. ; Ghomi, Seyyed Mohammad Taghi Fatemi ; Jolai, Fariborz
Author_Institution :
Dept. of Ind. Eng., Amirkabir Univ. of Technol., Tehran, Iran
Abstract :
This paper introduces a new approach toward modeling supply chain. Instead of minimizing cost or maximizing benefit, we try to set the ratio of revenue to cost to a certain value and minimize cost in this condition, simultaneously. As this ratio is one of the decision criteria in economical engineering context, it may be attractive for industries to decide whether participate in this chain or not. An algorithm is proposed and tested to see whether this approach and this procedure work or not.
Keywords :
cost reduction; decision making; supply chain management; cost minimization; decision criteria; economical engineering; revenue-cost ratio; supply chain modeling; Equations; Erbium; Genetic algorithms; Manufacturing; Mathematical model; Supply chains; Transportation; Supply chain modeling; revenue to cost;
Conference_Titel :
Industrial Engineering and Engineering Management (IEEM), 2011 IEEE International Conference on
Conference_Location :
Singapore
Print_ISBN :
978-1-4577-0740-7
Electronic_ISBN :
2157-3611
DOI :
10.1109/IEEM.2011.6118057