IDEAS home Printed from https://ideas.repec.org/a/taf/tprsxx/v54y2016i12p3640-3658.html
   My bibliography  Save this article

An integrated inventory optimization model for facility location-allocation problem

Author

Listed:
  • R.P. Manatkar
  • Kondapaneni Karthik
  • Sri Krishna Kumar
  • Manoj Kumar Tiwari

Abstract

This paper presents an integrated inventory distribution optimisation model for multiple products in a multi-echelon supply chain environment. Inventory, transportation and location decisions are considered. The objective is to offer practical guideline to the steel retail supply chain practitioners in choosing the correct distribution centre, finding out inventory level at individual inventory keeping points (retailers and distribution centres) point thereby helping them in reducing overall distribution cost. The framework presented endorses systems approach and suggests near-optimal approach to calculating inventory for an individual distributor and his retailers. Two algorithms are used to solve this problem, a novel hybrid Multi-objective Self-learning particle swarm optimiser and Non-dominated sorting genetic algorithm-II. The model and solution methods are tested on real data-sets obtained from organisations in the steel retail environment. The actual data on inventory holding, ordering and transportation costs of distributors and retailers are used as inputs. The decisions like choosing correct set of Distribution centres, keeping optimal regular and safety stock inventory levels are arrived at by applying practical constraints in the supply chain. Model developed assists in effective and efficient distribution of the products manufactured from the optimal location at minimal cost.

Suggested Citation

  • R.P. Manatkar & Kondapaneni Karthik & Sri Krishna Kumar & Manoj Kumar Tiwari, 2016. "An integrated inventory optimization model for facility location-allocation problem," International Journal of Production Research, Taylor & Francis Journals, vol. 54(12), pages 3640-3658, June.
    • Handle: RePEc:taf:tprsxx:v:54:y:2016:i:12:p:3640-3658
    DOI: 10.1080/00207543.2015.1120903
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/00207543.2015.1120903
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/00207543.2015.1120903?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Darmawan, Agus & Wong, Hartanto & Thorstenson, Anders, 2021. "Supply chain network design with coordinated inventory control," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 145(C).
    2. Zhang, Fan & Lv, Huitao & Xing, Qiang & Ji, Yanjie, 2024. "Deployment of battery-swapping stations: Integrating travel chain simulation and multi-objective optimization for delivery electric micromobility vehicles," Energy, Elsevier, vol. 290(C).
    3. Dezhi Zhang & Shuxin Yang & Shuangyan Li & Jiajun Fan & Bin Ji, 2020. "Integrated Optimization of the Location–Inventory Problem of Maintenance Component Distribution for High-Speed Railway Operations," Sustainability, MDPI, vol. 12(13), pages 1-25, July.
    4. Gupta, Anshu & Pachar, Nomita & Jain, Akansha & Govindan, Kannan & Jha, P.C., 2023. "Resource reallocation strategies for sustainable efficiency improvement of retail chains," Journal of Retailing and Consumer Services, Elsevier, vol. 73(C).
    5. Soumen Kumar Das & Magfura Pervin & Sankar Kumar Roy & Gerhard Wilhelm Weber, 2023. "Multi-objective solid transportation-location problem with variable carbon emission in inventory management: a hybrid approach," Annals of Operations Research, Springer, vol. 324(1), pages 283-309, May.
    6. Jahani, Hamed & Abbasi, Babak & Sheu, Jiuh-Biing & Klibi, Walid, 2024. "Supply chain network design with financial considerations: A comprehensive review," European Journal of Operational Research, Elsevier, vol. 312(3), pages 799-839.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:tprsxx:v:54:y:2016:i:12:p:3640-3658. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/TPRS20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.