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Kyung, Gyouhyung
Interaction & Experience Lab (ixlab)
Research Interests
  • Human Factors Engineering, UX, Ergonomic Product Design & Development

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Optimization of total inventory cost and order fill rate in a supply chain using PSO

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Title
Optimization of total inventory cost and order fill rate in a supply chain using PSO
Author
Park, Kyoung JongKyung, Gyouhyung
Keywords
Information quality level; Initial conditions; Initial inventory; Particle swarm optimization
Issue Date
201402
Publisher
SPRINGER LONDON LTD
Citation
INTERNATIONAL JOURNAL OF ADVANCED MANUFACTURING TECHNOLOGY, v.70, no.9-12, pp.1533 - 1541
Abstract
This paper proposes a method to optimize both the total cost and order fill rates in a supply chain using the particle swarm optimization (PSO) method. This method automatically adjusts the initial inventory levels of all tiers involved in a supply chain by considering information quality level (IQL), which is determined by the degree of availability of lead time history data. Analyses of variance are used to examine if there are any effects of IQL on the total cost and order fill rates. The results show that the proposed method finds better solutions which provide a lower inventory level while maintaining higher order fill rates than when PSO is not applied.
URI
http://scholarworks.unist.ac.kr/handle/201301/3861
DOI
http://dx.doi.org/10.1007/s00170-013-5399-6
ISSN
0268-3768
Appears in Collections:
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