Optimisation of total supply chain cost of multi-echelon system in leagile network under probabilistic demand

A. Naga Phaneendra, V. Diwakar Reddy, G. Sankaraiah and I. Nagaraju

International Journal of Industrial and Systems Engineering, 2021, vol. 39, issue 2, 270-286

Abstract: In era of competitive digitalised world inventory management and cost control in total supply chain (SC) becomes challenging job for industrialists and researchers. In general, supply chain contains of multi-supplier, retailer, and manufacturing plants at various locations where it supplies versatile products to the end users with trending expectations in stochastic demands. To control total SC cost, the optimum level of inventory should establish at every location by considering various influencing factors. Therefore, this paper developed a computational complex problem considering all practical scenarios subjected to quantity, cost, capacity and space constraints with the aim of minimising total SC cost and improving legality of SC network. A novel self-adaptive harmonic search (NSHS) algorithm applied to accomplish accurate results efficiently. Finally, this novel model demonstrated with an illustrative example tested with practical data to prove its feasibility and effectiveness.

Keywords: inventory management; order quantity; (s, S) policy; novel self-adaptive harmonic search; NSHS. (search for similar items in EconPapers)
Date: 2021
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