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Journal Article
The joint replenishment problem involving multiple suppliers offering quantity discounts
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- Authors
- I. K. MOON, S. K. GOYAL, B. C. CHA
- Issue Date
- 2008-06
- Citation
- International Journal of Systems Science, v.39, no.6, pp.629-637
- ISSN
- 0020-7721
- Language
- English
- Type
- Journal Article
- Abstract
- In this article, we deal with the problem of determining the economic operating policy when a number of items are to be procured from a number of suppliers offering different quantity discounts schedules. In such inventory problems, a fixed cost is incurred with each replenishment order, independent of the suppliers as well as the items involved in the order. Further, the item involves a minor fixed cost. In such a system, it includes the supplier selection problem when considering the quantity discounts as well as the general joint replenishment problem. We develop a hybrid genetic algorithm for this NP-hard decision problem and extend it to systems with resource restrictions.
- KSP Keywords
- Decision problem, Fixed Cost, Multiple Suppliers, NP-hard, Operating policy, Quantity discounts, Supplier selection problem, hard decision, hybrid genetic algorithm, joint replenishment problem