Title of article
A simulation-optimizationapproachforintegratedsourcing and inventorydecisions
Author/Authors
Burcu B. Keskin، نويسنده , , SharifH.Melouk، نويسنده , , IvanL.Meyer، نويسنده ,
Issue Information
ماهنامه با شماره پیاپی سال 2010
Pages
14
From page
1648
To page
1661
Abstract
In thispaper,westudyageneralizedvendorselectionproblemthatintegratesvendorselectionand
inventoryreplenishmentdecisionsofafirm.Inadditiontovendor-specificprocurementand
managementcosts,weconsiderinventoryreplenishment,holding,andbackordercostsexplicitlyto
meet stationarystochasticdemandfacedbythefirm.Ourgoalistoselectthebestsetofvendorsalong
with theoptimuminventorydecisionsateachplantofthefirmsothatweminimizethesystem-wide
total costsandachievedesiredserviceandreliabilitylevels.Duetouncertaintiesinherentinthe
problemrelatedtodemandobservedbythefirm,qualityprovidedbyvendors,anddisruptions
observedbyvendors,weutilizeasimulation-optimizationapproachtosolvetheproblem.More
specifically,webuildadiscrete-eventsimulationmodeltoevaluatetheobjectivefunctionofthe
problemthatworksinconcertwithascattersearch-basedmetaheuristicoptimizationapproachto
search thesolutionspace.Computationalresultsnotonlyprovidemanagerialinsightsandmeasurethe
significanceofintangiblefactorsinthevendorselectionprocessbutalsohighlighttheimportanceof
computationaltoolssuchassimulation-optimizationforthevendorselectionproblem.
Keywords
scatter search , Vendor selection , Lot-sizing , Simulation-optimization
Journal title
Computers and Operations Research
Serial Year
2010
Journal title
Computers and Operations Research
Record number
927772
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