International Journal of Computational Intelligence Systems

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Volume 11, Issue 1, 2018, Pages 248 - 255

Integrating Replenishment Policy with GSAA-FCM Based Multi-Criteria Inventory Classification

Authors
Qi Zhang1, qiqfly@163.com, Qiuhong Zhao1, qhzhao@buaa.edu.cn, Yashuai Li1, *, liyashuai@buaa.edu.cn
1School of Economics and Management, Beihang University, No. 37 of Xueyuan Road, Haidian District, Beijing, 100191, China
*Corresponding Author.
Corresponding Author
Received 21 August 2017, Accepted 25 October 2017, Available Online 1 January 2018.
DOI
10.2991/ijcis.11.1.19How to use a DOI?
Keywords
Multi-criteria Inventory Classification; FCM; GSAA-FCM; Joint Replenishment Policy
Abstract

It is neither practical nor economic to assign a specific inventory policy for each item if there are thousands of items in one firm. This paper seeks to solve the stock problem from an integrated perspective by taking into account of both classification of items and replenishment policies for each group. The items are first classified into different groups with respect to the similarity of predefined criteria. The fuzzy clustering-means algorithm (FCM) could help conduct the multi-criteria inventory classification, which considers annual dollar usage, lead time and criticality. Genetic algorithm and simulated annealing algorithm (GSAA) are introduced to eliminate the drawbacks (initial value sensitivity and local optimal convergence) of FCM. A modified FCM algorithm, the GSAA-FCM algorithm, is therefore proposed for classification. Based on the classification, each group is then assigned an appropriate replenishment policy through optimizing both joint replenishment period and the total costs. To demonstrate the usefulness and effectiveness of our method, an illustrative example is provided with a real dataset compared to other 9 methods in previous literature.

Copyright
© 2018, the Authors. Published by Atlantis Press.
Open Access
This is an open access article under the CC BY-NC license (http://creativecommons.org/licences/by-nc/4.0/).

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<Previous Article In Issue
Next Article In Issue>
Journal
International Journal of Computational Intelligence Systems
Volume-Issue
11 - 1
Pages
248 - 255
Publication Date
2018/01/01
ISSN (Online)
1875-6883
ISSN (Print)
1875-6891
DOI
10.2991/ijcis.11.1.19How to use a DOI?
Copyright
© 2018, the Authors. Published by Atlantis Press.
Open Access
This is an open access article under the CC BY-NC license (http://creativecommons.org/licences/by-nc/4.0/).

Cite this article

risenwbib
TY  - JOUR
AU  - Qi Zhang
AU  - Qiuhong Zhao
AU  - Yashuai Li
PY  - 2018
DA  - 2018/01/01
TI  - Integrating Replenishment Policy with GSAA-FCM Based Multi-Criteria Inventory Classification
JO  - International Journal of Computational Intelligence Systems
SP  - 248
EP  - 255
VL  - 11
IS  - 1
SN  - 1875-6883
UR  - https://doi.org/10.2991/ijcis.11.1.19
DO  - 10.2991/ijcis.11.1.19
ID  - Zhang2018
ER  -