Naslov
Metaheuristic for Optimizing safety Stock in Multistage Inventory System

Autori
Badurina, Gordan ; Šorić, Kristina ; Babić, Zoran

Izvornik
Croatian operational research review (1848-0225) 4 (2013); 34-43

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni

Ključne riječi
Inventory cost; Pharmaceutical industry; Mixed integer programming; Metaheuristics

Sažetak
This paper looks into optimizing safety stock in a pharmaceutical supply considering the three stages inventory system. The problem is defined as a single criterion mixed integer programming problem. The objective is to minimize the inventory cost while the service level is predetermined. In order to coordinate inventories at all echelons, the variable representing the so-called service time is introduced. Because of the problem dimensions, metaheuristics based on genetic algorithm and simulated annealing are constructed and compared, using real data from a Croatian pharmaceutical company. The computational results are presented evidencing improvements in minimizing inventory costs.

Izvorni jezik
Engleski

Znanstvena područja
Matematika, Ekonomija

POVEZANOST RADA