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Published in:
2010 | OriginalPaper | Chapter
A Particle Swarm Optimization Algorithm for Optimal Operating Parameters of VMI Systems in a Two-Echelon Supply Chain
Authors : Goh Sue-Ann, S. G. Ponnambalam
Published in: Swarm, Evolutionary, and Memetic Computing
Publisher: Springer Berlin Heidelberg
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This paper focuses on the operational issues of a Two-echelon Single-Vendor-Multiple-Buyers Supply chain (TSVMBSC) under vendor managed inventory (VMI) mode of operation. To determine the optimal sales quantity for each buyer in TSVMBC, a mathematical model is formulated. Based on the optimal sales quantity can be obtained and the optimal sales price that will determine the optimal channel profit and contract price between the vendor and buyer. All this parameters depends upon the understanding of the revenue sharing between the vendor and buyers. A Particle Swarm Optimization (PSO) is proposed for this problem. Solutions obtained from PSO is compared with the best known results reported in literature.