A novel differential evolution algorithm for joint replenishment problem under interdependence and its application

Lin Wang, Jing He, Desheng Wu and Yu-Rong Zeng

International Journal of Production Economics, 2012, vol. 135, issue 1, 190-198

Abstract: In this paper, we propose a new differential evolution (DE) algorithm for joint replenishment of inventory using both direct grouping and indirect grouping which allows for the interdependence of minor ordering costs. Since solutions to the joint replenishment problem (JRP) can be represented by integer decision variables, this makes the JRP a good candidate for the DE algorithm. The results of testing randomly generated problems in contrastive numerical examples and two extended experiments show that the DE algorithm provides close to optimal results for some problems than the evolutionary algorithm (EA), which has been proved to be an efficient algorithm. Moreover, the DE algorithm is faster than the EA for most problems. We also conducted a case study and application results suggest that the proposed model is successful in decreasing total costs of maintenance materials inventories significantly in two power companies.

Keywords: Joint replenishment; Interdependence; Minor ordering costs; Differential evolution algorithm (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (7)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:proeco:v:135:y:2012:i:1:p:190-198

DOI: 10.1016/j.ijpe.2011.06.015

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