The joint replenishment problem involving multiple suppliers offering quantity discounts |
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Authors: | I K Moon S K Goyal B C Cha |
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Affiliation: | 1. Department of Industrial Engineering , Pusan National University , Busan 609-735, Korea ikmoon@pusan.ac.kr;3. Decision Sciences &4. MIS , John Molson School of Business, Concordia University , Montreal, Canada;5. Postal Technology Research Center, ETRI , Daejeon 305-700, Korea |
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Abstract: | In this article, we deal with the problem of determining the economic operating policy when a number of items are to be procured from a number of suppliers offering different quantity discounts schedules. In such inventory problems, a fixed cost is incurred with each replenishment order, independent of the suppliers as well as the items involved in the order. Further, the item involves a minor fixed cost. In such a system, it includes the supplier selection problem when considering the quantity discounts as well as the general joint replenishment problem. We develop a hybrid genetic algorithm for this NP-hard decision problem and extend it to systems with resource restrictions. |
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Keywords: | Joint replenishment problem Quantity discounts Multi-suppliers Genetic algorithm |
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