Title :
A hybrid approach to designing inbound-resupply strategies
Author :
Dullaert, Wout ; Vernimmen, Bert ; Raa, Birger ; Witlox, Frank
Author_Institution :
Antwerp Univ., Belgium
Abstract :
We model the behavior of the demand distribution and lead-time distribution separately and determine the value of demand during lead time by discrete-event simulation. A new methodology determines the optimal inbound-resupply strategy when suppliers ship goods to receivers. An evolutionary metaheuristic uses discrete-event simulation to calculate safety stock levels and minimize total logistics costs.
Keywords :
discrete event simulation; evolutionary computation; goods distribution; inventory management; logistics; stock control; demand distribution; discrete-event simulation; evolutionary metaheuristic method; lead-time distribution; logistics; optimal inbound-resupply strategy; Costs; Discrete event simulation; Gaussian distribution; Logistics; Manufacturing; Marine vehicles; Marketing and sales; Safety; Stochastic processes; Transportation; evolutionary algorithm; metaheuristics; order splitting; simulation; total logistics costs;
Journal_Title :
Intelligent Systems, IEEE
DOI :
10.1109/MIS.2005.60
