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Soft time-windows for a bi-objective vendor selection problem under a multi-sourcing strategy: Binary-continuous differential evolution
, Article Computers and Operations Research ; Volume 76 , 2016 , Pages 43-59 ; 03050548 (ISSN) ; Akhavan Niaki, S. T ; Sharif University of Technology
Elsevier Ltd
Abstract
This paper introduces a novel and practical integration of the inventory control and vendor selection problems for a manufacturing system that provides multiple products for several stores located in different places. The replenishment policy of each store is the economic order quantity under a multi-sourcing strategy in which the demand rate decreases as the selling price increases. In this strategy, the ordered quantity of each store for each product can be replenished by a set of selected vendors among all. In addition, the selected vendors can deliver the required products within a certain time window based on a soft time-window mechanism. The aim is to minimize the total system cost and...
A binary-continuous invasive weed optimization algorithm for a vendor selection problem
, Article Knowledge-Based Systems ; Volume 140 , 2018 , Pages 158-172 ; 09507051 (ISSN) ; Akhavan Niaki, T ; Sharif University of Technology
Elsevier B.V
2018
Abstract
This paper introduces a novel and practical vendor selection problem of a firm that cooperates with multiple geographically dispersed stores. In this problem, the firm entrusts some of its business process to external vendors, and each store can split the ordered quantity between one or more potential vendors, represented as a multi-sourcing strategies. Moreover, the Cobb–Douglas demand function is utilised to establish a relationship between the market demand and the selling price; representing price-sensitive demand. This paper seeks to choose the best vendors, to allocate the stores to them, and to find the optimal values for inventory-related decisions. The approach is based on the...