C.-C.H. Chan, C.-B. Cheng, and S.-W. Huang
Supply chain management, ordering policy, agent, genetic algorithm,simulation
This paper proposes using mixed inventory policies to determine ordering quantities for all organizations in a supply chain. Agents of organizations choose inventory policies from a set of candidate policies, and determine their ordering quantities for each period according to the chosen policies. A genetic algorithm is formulated to search for the optimal combination of inventory policies to minimize the total costs of the whole supply chain over a time horizon. To illustrate and evaluate the performance of our approach, many different setups of experiments are conducted by computer simulation of an MIT Beer game.
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