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Economic Production Quantity (EPQ) Inventory Model for a Deteriorating Item with a Two-Level Trade Credit Policy and Allowable Shortages Read chapter Read first chapter

2020 | OriginalPaper | Chapter

17. Allocation of Order Amongst Available Suppliers Using Multi-objective Genetic Algorithm

Authors : Azharuddin Shaikh, Poonam Mishra, Isha Talati

Published in: Optimization and Inventory Management

Publisher: Springer Singapore

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Abstract

In a supply chain, procurement of items is done on the basis of individual performance, whereas the performance of supply chain can be improved by using scientific techniques. In this chapter, we discuss the manufacturer’s problem of procuring several items from the available suppliers; where, supplies from each supplier are constrained. The manufacturer needs to determine which item is to be procured from which supplier and in what quantity. The allocation of order amongst suppliers is done on the basis of multiple criteria such as unit price, quality, supply capacity, delivery time, and unit transportation cost. To demonstrate the scenario, we formulate the mathematical model, which leads to a multi-objective optimization problem. The optimization is done using multi-objective genetic algorithm, which gives a set of Pareto-optimal solutions, then we utilize 3D-RadVis technique to get the best solution. To validate the model, numerical example is presented.

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previous chapter Supply Chain Network Optimization Through Player Selection Using Multi-objective Genetic Algorithm
next chapter Some Studies on EPQ Model of Substitutable Products Under Imprecise Environment
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Metadata
Title
Allocation of Order Amongst Available Suppliers Using Multi-objective Genetic Algorithm
Authors
Azharuddin Shaikh
Poonam Mishra
Isha Talati
Copyright Year
2020
Publisher
Springer Singapore
Book
Optimization and Inventory Management

Print ISBN: 978-981-13-9697-7

Electronic ISBN: 978-981-13-9698-4

Copyright Year: 2020

DOI
https://doi.org/10.1007/978-981-13-9698-4_17