|Solving the multi-buyer joint replenishment problem with simulated annealing method
|Inventory control -- Mathematical models
Simulated annealing (Mathematics)
Hong Kong Polytechnic University -- Dissertations
Department of Applied Mathematics
|104 leaves : ill. ; 30 cm
|The Joint Replenishment Problem (JRP) is a Multi-Item inventory problem of coordinating the replenishment of a group of items that may be jointly ordered from a single supplier. Each time an order is placed, a major ordering cost is incurred, independent of the number of items ordered. Furthermore, a minor ordering cost is incurred whenever an item is included in a replenishment order. Joint replenishment of a group of items reduces the number of times that the major ordering cost is charged, and so this saves costs. In some cases, a group of buyers can be coordinated to order items from a single supplier. Then, the JRP problem is extended from a Single-Buyer Multi-Item JRP to a Multi-Buyer Multi-Item (MBMI) JRP. Some algorithms had been developed to solve the JRP. However, those algorithms become inefficient when the size of the problem becomes large. A better approach is to solve the problem with meta heuristic search. In this project, the Simulated Annealing (SA) method is employed. We have implemented the SA method in a computer program and applied to a form-ordering problem of a leading bank in Hong Kong. The goal of the problem is to minimize the ordering and inventory cost by coordinating 100 branches in the replenishment of 26 types of forms. This is a typical MBMI JRP. With the use of SA, this problem is solved in around 8 seconds in a personal computer. The model of the MBMI JRP is further extended to coordinate the vendor and buyers together. The new model is implemented by a computer program and applied to the form-ordering problem. To investigate the performance of the new model, it is compared with other production/replenishment schemes. The results show that the new model can achieve a significant cost saving in the forms-order problem.
|All rights reserved
Files in This Item:
|For All Users (off-campus access for PolyU Staff & Students only)
As a bona fide Library user, I declare that:
- I will abide by the rules and legal ordinances governing copyright regarding the use of the Database.
- I will use the Database for the purpose of my research or private study only and not for circulation or further reproduction or any other purpose.
- I agree to indemnify and hold the University harmless from and against any loss, damage, cost, liability or expenses arising from copyright infringement or unauthorized usage.
By downloading any item(s) listed above, you acknowledge that you have read and understood the copyright undertaking as stated above, and agree to be bound by all of its terms.
Please use this identifier to cite or link to this item: