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Supply Chain Network Optimization Using Genetic Algorithm
Abstract
Optimization is the methodologies for improving the quality and desirability of a product or product concept. It is he process of finding function extrema to solve problems and finding an alternative with the most cost effective or highest achievable performance under the given constraints, by maximizing desired factors and minimizing undesired ones. Management is a process of integrating and utilizing suppliers, manufacturers, warehouses and retailers, so that goods are produced and delivered at the right quantities and at the right time while minimizing costs as well as satisfying customer requirements. Each manufacturer or distributor has some subset of the supply chain that it must manage and run profitably and efficiently to survive and grow. Managing the entire supply chain becomes a key factor for the successful business. In this work, the optimal solution of a supply chain networking is obtained by using the non-traditional technique such as genetic algorithm. The proposed genetic algorithm frame work offers a number of advantages like it is a multiple point search technique that examines a set of solutions and not just one solution. This article deals with the optimization of the supply chain network of an organization by reducing the total operating cost considering various constraints.
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References
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