Title: Optimisation of supply chain inventory for multiretail and multiitem class consumer product problems using genetic algorithm
Authors: Prasun Das, Subhasis Chaudhury
Addresses: Indian Statistical Institute, SQC and OR Unit, 203 B.T. Road, Kolkata 700 108, India. ' Tata Consultancy Services, Plot B-1, Block EP and GP, Sector 5, Salt Lake Electronics Complex, Kolkata 700 091, India
Abstract: Maintaining a smooth supply chain between the retail outlets and the warehouse is one of the key aspects of any retail-chain business. This study makes an attempt to solve various multiobjective optimisation problems involving key parameters of supply chain system viz., maximisation of service level and sale throughput and minimisation of inventory cost under retail class and footwear class constraints along with capacity and budget limitations for the warehouse. Using non-dominated sorting Genetic Algorithm (GA), four different models are suggested for the decision-maker to choose based on the preference of the objective function or some hitherto unstated constraints. The sensitivity analysis for the buffer level of the warehouse is also worked out.
Keywords: multiobjective optimisation; service levels; sales throughput; retail class; footwear class; genetic algorithms; supply chain management; SCM; inventory costs; retailing.
International Journal of Productivity and Quality Management, 2008 Vol.3 No.1, pp.33 - 73
Published online: 02 Dec 2007 *Full-text access for editors Access for subscribers Purchase this article Comment on this article