A simulated annealing approach to supplier selection aware inventory planning
Selection of an appropriate supplier is a crucial and challenging task in the effective management of a supply chain. Also, appropriate inventory management is critical to the success of a supply chain operation. In recent years, there has been a growing interest in the area of selection of an appro...
| Main Authors: | , , , |
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| Format: | Conference or Workshop Item |
| Published: |
2015
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| Online Access: | https://eprints.nottingham.ac.uk/33944/ |
| _version_ | 1848794740060848128 |
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| author | Turk, Seda Miller, Simon Özcan, Ender John, Robert |
| author_facet | Turk, Seda Miller, Simon Özcan, Ender John, Robert |
| author_sort | Turk, Seda |
| building | Nottingham Research Data Repository |
| collection | Online Access |
| description | Selection of an appropriate supplier is a crucial and challenging task in the effective management of a supply chain. Also, appropriate inventory management is critical to the success of a supply chain operation. In recent years, there has been a growing interest in the area of selection of an appropriate vendor and creating good inventory planning using supplier selection information. In this paper, we consider both of these tasks in a two-stage approach employing Interval Type-2 Fuzzy Sets (IT2FS) and Simulated Annealing (SA). In the first stage, the supplier selection problem is solved by using IT2FS for ranking the suppliers. We present an inventory model incorporating information from the first stage that captures the influence of supplier risk on the total cost of supply chain operation. In the second stage, SA is used for solving the inventory planning problem based on this model improving on both supply chain operation cost and supplier risk. In this study, we evaluated our approach using different scenarios and scalarisation techniques for SA to handle two objectives, simultaneously. |
| first_indexed | 2025-11-14T19:20:59Z |
| format | Conference or Workshop Item |
| id | nottingham-33944 |
| institution | University of Nottingham Malaysia Campus |
| institution_category | Local University |
| last_indexed | 2025-11-14T19:20:59Z |
| publishDate | 2015 |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | nottingham-339442020-05-04T17:08:08Z https://eprints.nottingham.ac.uk/33944/ A simulated annealing approach to supplier selection aware inventory planning Turk, Seda Miller, Simon Özcan, Ender John, Robert Selection of an appropriate supplier is a crucial and challenging task in the effective management of a supply chain. Also, appropriate inventory management is critical to the success of a supply chain operation. In recent years, there has been a growing interest in the area of selection of an appropriate vendor and creating good inventory planning using supplier selection information. In this paper, we consider both of these tasks in a two-stage approach employing Interval Type-2 Fuzzy Sets (IT2FS) and Simulated Annealing (SA). In the first stage, the supplier selection problem is solved by using IT2FS for ranking the suppliers. We present an inventory model incorporating information from the first stage that captures the influence of supplier risk on the total cost of supply chain operation. In the second stage, SA is used for solving the inventory planning problem based on this model improving on both supply chain operation cost and supplier risk. In this study, we evaluated our approach using different scenarios and scalarisation techniques for SA to handle two objectives, simultaneously. 2015-05-25 Conference or Workshop Item PeerReviewed Turk, Seda, Miller, Simon, Özcan, Ender and John, Robert (2015) A simulated annealing approach to supplier selection aware inventory planning. In: 2015 IEEE Congress on Evolutionary Computation (CEC2015), 25-28 May 2015, Sendai, Japan. http://dx.doi.org/10.1109/CEC.2015.7257105 10.1109/CEC.2015.7257105 10.1109/CEC.2015.7257105 10.1109/CEC.2015.7257105 |
| spellingShingle | Turk, Seda Miller, Simon Özcan, Ender John, Robert A simulated annealing approach to supplier selection aware inventory planning |
| title | A simulated annealing approach to supplier selection aware inventory planning |
| title_full | A simulated annealing approach to supplier selection aware inventory planning |
| title_fullStr | A simulated annealing approach to supplier selection aware inventory planning |
| title_full_unstemmed | A simulated annealing approach to supplier selection aware inventory planning |
| title_short | A simulated annealing approach to supplier selection aware inventory planning |
| title_sort | simulated annealing approach to supplier selection aware inventory planning |
| url | https://eprints.nottingham.ac.uk/33944/ https://eprints.nottingham.ac.uk/33944/ https://eprints.nottingham.ac.uk/33944/ |