Developing an integrated inventory management model for multi-item multi-echelon supply chain

As the industrial environment becomes more competitive, supply chain management (SCM) has attained growing attention from practical and academic societies as a crucial discipline. Among the involved decisions in the field of SCM, integrated inventory management is addressed in this paper. In this re...

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Bibliographic Details
Published in:International journal of advanced manufacturing technology 2014-05, Vol.72 (5-8), p.1099-1119
Main Authors: Shafieezadeh, Mahdi, Sadegheih, Ahmad
Format: Article
Language:English
Subjects:
CAE) and Design
Complexity
Computer-Aided Engineering (CAD
Engineering
Evolutionary algorithms
Evolutionary computation
Industrial and Production Engineering
Inventory
Inventory management
Mathematical models
Mechanical Engineering
Media Management
Original Article
Supply chain management
Supply chains
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Summary:As the industrial environment becomes more competitive, supply chain management (SCM) has attained growing attention from practical and academic societies as a crucial discipline. Among the involved decisions in the field of SCM, integrated inventory management is addressed in this paper. In this regards, this paper proposes an integrated inventory management model within a multi-item, multi-echelon supply chain (SC). The considered SC comprises multiple agents in upper layers supplying those of lower layer to enhance flexibility of the SC. Furthermore, three inventory models are developed with respect to different layers of SC in an integrated manner, seeking to optimize total cost of the whole SC. Due to nonlinear structure of the proposed model; high level of computational complexity is resulted. To cope with the complexity of proposed model, a differential evolution algorithm is adopted. Conducted numerical results indicate validity of the developed algorithm.
ISSN:0268-3768
1433-3015
DOI:10.1007/s00170-014-5684-z