An Analysis of the Optimal Multiobjective Inventory Clustering Decision with Small Quantity and Great Variety Inventory by Applying a DPSO

Joint Authors

Wang, Shen-Tsu
Li, Meng-Hua

Source

The Scientific World Journal

Issue

Vol. 2014, Issue 2014 (31 Dec. 2014), pp.1-15, 15 p.

Publisher

Hindawi Publishing Corporation

Publication Date

2014-08-14

Country of Publication

Egypt

No. of Pages

15

Main Subjects

Medicine
Information Technology and Computer Science

Abstract EN

When an enterprise has thousands of varieties in its inventory, the use of a single management method could not be a feasible approach.

A better way to manage this problem would be to categorise inventory items into several clusters according to inventory decisions and to use different management methods for managing different clusters.

The present study applies DPSO (dynamic particle swarm optimisation) to a problem of clustering of inventory items.

Without the requirement of prior inventory knowledge, inventory items are automatically clustered into near optimal clustering number.

The obtained clustering results should satisfy the inventory objective equation, which consists of different objectives such as total cost, backorder rate, demand relevance, and inventory turnover rate.

This study integrates the above four objectives into a multiobjective equation, and inputs the actual inventory items of the enterprise into DPSO.

In comparison with other clustering methods, the proposed method can consider different objectives and obtain an overall better solution to obtain better convergence results and inventory decisions.

American Psychological Association (APA)

Wang, Shen-Tsu& Li, Meng-Hua. 2014. An Analysis of the Optimal Multiobjective Inventory Clustering Decision with Small Quantity and Great Variety Inventory by Applying a DPSO. The Scientific World Journal،Vol. 2014, no. 2014, pp.1-15.
https://search.emarefa.net/detail/BIM-1051111

Modern Language Association (MLA)

Wang, Shen-Tsu& Li, Meng-Hua. An Analysis of the Optimal Multiobjective Inventory Clustering Decision with Small Quantity and Great Variety Inventory by Applying a DPSO. The Scientific World Journal No. 2014 (2014), pp.1-15.
https://search.emarefa.net/detail/BIM-1051111

American Medical Association (AMA)

Wang, Shen-Tsu& Li, Meng-Hua. An Analysis of the Optimal Multiobjective Inventory Clustering Decision with Small Quantity and Great Variety Inventory by Applying a DPSO. The Scientific World Journal. 2014. Vol. 2014, no. 2014, pp.1-15.
https://search.emarefa.net/detail/BIM-1051111

Data Type

Journal Articles

Language

English

Notes

Includes bibliographical references

Record ID

BIM-1051111