Short Communication: A simple and better algorithm to solve the vendor managed inventory control system of multi-product multi-constraint economic order quantity model

Authors:
Leopoldo Eduardo Cárdenas-Barrón;Gerardo Treviño-Garza;Hui Ming Wee
Affiliations:
Department of Industrial and Systems Engineering, School of Engineering, Instituto Tecnológico y de Estudios Superiores de Monterrey, E. Garza Sada 2501 Sur, CP 64 849, Monterrey, NL, Mexico;Department of Management, School of Business, Instituto Tecnológico y de Estudios Superiores de Monterrey, E. Garza Sada 2501 Sur, CP 64 849, Monterrey, NL, Mexico;Department of Industrial and Systems Engineering, Chung Yuan Christian University, Chungli 32023, Taiwan, ROC
Venue:
Expert Systems with Applications: An International Journal
Year:
2012

Citing 12
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Abstract

This research presents an alternative heuristic algorithm to solve the vendor management inventory system with multi-product and multi-constraint based on EOQ with backorders considering two classical backorders costs: linear and fixed. For this type of inventory system, the optimization problem is a nonlinear integer programming (NLIP). Several numerical examples are given to demonstrate that the proposed heuristic algorithm is better than the previous genetic algorithm published based on three aspects: the total cost, the number of evaluations of the total cost function and computational time. Furthermore, the proposed algorithm is simpler and can be implemented by any people.