Robust Inventory System Optimization Based on Simulation and Multiple Criteria Decision Making
Inventory management in retailers is difficult and complex decision making process which is related to the conflict criteria, also existence of cyclic changes and trend in demand is inevitable in many industries. In this paper, simulation modeling is considered as efficient tool for modeling of reta...
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| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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Wiley
2014-01-01
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| Series: | Modelling and Simulation in Engineering |
| Online Access: | http://dx.doi.org/10.1155/2014/305120 |
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| _version_ | 1832567801171148800 |
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| author | Ahmad Mortazavi Alireza Arshadi khamseh |
| author_facet | Ahmad Mortazavi Alireza Arshadi khamseh |
| author_sort | Ahmad Mortazavi |
| collection | DOAJ |
| description | Inventory management in retailers is difficult and complex decision making process which is related to the conflict criteria, also existence of cyclic changes and trend in demand is inevitable in many industries. In this paper, simulation modeling is considered as efficient tool for modeling of retailer multiproduct inventory system. For simulation model optimization, a novel multicriteria and robust surrogate model is designed based on multiple attribute decision making (MADM) method, design of experiments (DOE), and principal component analysis (PCA). This approach as a main contribution of this paper, provides a framework for robust multiple criteria decision making under uncertainty. |
| format | Article |
| id | doaj-art-775ba9969a4b4778bdaced4536a6d2c9 |
| institution | Kabale University |
| issn | 1687-5591 1687-5605 |
| language | English |
| publishDate | 2014-01-01 |
| publisher | Wiley |
| record_format | Article |
| series | Modelling and Simulation in Engineering |
| spelling | doaj-art-775ba9969a4b4778bdaced4536a6d2c92025-02-03T01:00:36ZengWileyModelling and Simulation in Engineering1687-55911687-56052014-01-01201410.1155/2014/305120305120Robust Inventory System Optimization Based on Simulation and Multiple Criteria Decision MakingAhmad Mortazavi0Alireza Arshadi khamseh1Department of Industrial Engineering, Faculty of Engineering, Kharazmi University, Tehran 15719 14911, IranDepartment of Industrial Engineering, Faculty of Engineering, Kharazmi University, Tehran 15719 14911, IranInventory management in retailers is difficult and complex decision making process which is related to the conflict criteria, also existence of cyclic changes and trend in demand is inevitable in many industries. In this paper, simulation modeling is considered as efficient tool for modeling of retailer multiproduct inventory system. For simulation model optimization, a novel multicriteria and robust surrogate model is designed based on multiple attribute decision making (MADM) method, design of experiments (DOE), and principal component analysis (PCA). This approach as a main contribution of this paper, provides a framework for robust multiple criteria decision making under uncertainty.http://dx.doi.org/10.1155/2014/305120 |
| spellingShingle | Ahmad Mortazavi Alireza Arshadi khamseh Robust Inventory System Optimization Based on Simulation and Multiple Criteria Decision Making Modelling and Simulation in Engineering |
| title | Robust Inventory System Optimization Based on Simulation and Multiple Criteria Decision Making |
| title_full | Robust Inventory System Optimization Based on Simulation and Multiple Criteria Decision Making |
| title_fullStr | Robust Inventory System Optimization Based on Simulation and Multiple Criteria Decision Making |
| title_full_unstemmed | Robust Inventory System Optimization Based on Simulation and Multiple Criteria Decision Making |
| title_short | Robust Inventory System Optimization Based on Simulation and Multiple Criteria Decision Making |
| title_sort | robust inventory system optimization based on simulation and multiple criteria decision making |
| url | http://dx.doi.org/10.1155/2014/305120 |
| work_keys_str_mv | AT ahmadmortazavi robustinventorysystemoptimizationbasedonsimulationandmultiplecriteriadecisionmaking AT alirezaarshadikhamseh robustinventorysystemoptimizationbasedonsimulationandmultiplecriteriadecisionmaking |