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Multi-Stage Supply Chain Inventory Control Using Simulation Optimization  

Yoo, Jang-Sun (Department of Information and Industrial Engineering, Yonsei University)
Kim, Shin-Tae (Department of Information and Industrial Engineering, Yonsei University)
Hong, Seong-Rok (Department of Information and Industrial Engineering, Yonsei University)
Kim, Chang-Ouk (Department of Information and Industrial Engineering, Yonsei University)
Publication Information
IE interfaces / v.21, no.4, 2008 , pp. 444-455 More about this Journal
Abstract
In the present manufacturing environment, the appropriate decision making strategy has a significance and it should count on the fast-changing demand of customers. This research derives the optimal levels of the decision variables affecting the inventory related performance in multi-stage supply chain by using simulation and genetic algorithm. Simulation model helps analyze the customer service level of the supply chain computationally and the genetic algorithm searches the optimal solutions by interaction with the simulation model. Our experiments show that the integration approach of the genetic algorithm with a simulation model is effective in finding the solutions that achieve predefined target service levels.
Keywords
inventory control; supply chain simulation; genetic algorithm; simulation optimization;
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