A multiple criteria decision making technique for supplier selection and inventory management strategy: A case of multi-product and multi-supplier problem | Zendy

Morteza Parhizkari | Zendy; Maghsoud Amiri | Zendy; Morteza Mousakhani | Zendy

Open Access

A multiple criteria decision making technique for supplier selection and inventory management strategy: A case of multi-product and multi-supplier problem

Author(s) -

Morteza Parhizkari,

Maghsoud Amiri,

Morteza Mousakhani

Publication year - 2013

Publication title -

decision science letters

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 0.384

H-Index - 18

eISSN - 1929-5804

pISSN - 1929-5812

DOI - 10.5267/j.dsl.2013.04.003

Subject(s) - selection (genetic algorithm) , product (mathematics) , supplier evaluation , operations research , supplier relationship management , business , supply chain management , inventory management , operations management , supply chain , process management , computer science , management science , marketing , engineering , mathematics , artificial intelligence , geometry

Selection of an appropriate supplier along with planning a good inventory system has become an area of open research for the past few years. In this paper, we present a multi objective decision making supplier and inventory management model where two objectives including the quality and offering price of supplier are minimized, simultaneously. The proposed model is formulated as mixed integer programming and it is converted into an ordinary single objective function using Lp-Norm. In order to find efficient solution, we use NSGA-II as meta-heuristic technique and the performance of the proposed model is examined using some instances. The preliminary results indicate that both Lp-Norm and NSGA-II methods can be used to handle problems in various sizes

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