TY - GEN
T1 - A profit maximization lot-sizing and supplier selection problem under price discount
AU - Srun, Sakada
AU - Naenna, Thanakorn
N1 - Publisher Copyright:
© 2020 IEEE.
PY - 2020/1
Y1 - 2020/1
N2 - This research addresses the development of integrated inventory lot-sizing and supplier selection problem in supply chain management, in which a buyer firm that has limited budget and warehouse space wants to procure multiple products from a group of potential suppliers and sell to their customer. In particular, the suppliers may provide different quantity discount scheme, ordering cost, and transportation cost. The problem is modelled as mixed integer linear programming (MILP) by incorporating quantity discount. To overcome the large scale problem, Genetic Algorithm (GA) is developed in next phase. The comparison was conducted on both MILP and GA. The results showed that GA has better performance in term of solution feasibility and computational time.
AB - This research addresses the development of integrated inventory lot-sizing and supplier selection problem in supply chain management, in which a buyer firm that has limited budget and warehouse space wants to procure multiple products from a group of potential suppliers and sell to their customer. In particular, the suppliers may provide different quantity discount scheme, ordering cost, and transportation cost. The problem is modelled as mixed integer linear programming (MILP) by incorporating quantity discount. To overcome the large scale problem, Genetic Algorithm (GA) is developed in next phase. The comparison was conducted on both MILP and GA. The results showed that GA has better performance in term of solution feasibility and computational time.
KW - Genetic algorithm
KW - Inventory lot-sizing
KW - Net revenue
KW - Optimization
KW - Supplier selection
UR - https://www.scopus.com/pages/publications/85084043044
U2 - 10.1109/KST48564.2020.9059385
DO - 10.1109/KST48564.2020.9059385
M3 - Conference contribution
AN - SCOPUS:85084043044
T3 - KST 2020 - 2020 12th International Conference on Knowledge and Smart Technology
SP - 24
EP - 29
BT - KST 2020 - 2020 12th International Conference on Knowledge and Smart Technology
PB - Institute of Electrical and Electronics Engineers Inc.
T2 - 12th International Conference on Knowledge and Smart Technology, KST 2020
Y2 - 29 January 2020 through 1 February 2020
ER -