Optimization of Supply Chain System in Multi-product, Multi-supplier Scenario Using Teaching-learning-based Optimization Algorithm

摘要: This paper presents the multi-objective optimization aspects of a supply chain with multi-product, multisupplier system. The three objectives considered in this work are: minimization of the total cost of the supply chain, maximization of total quality level of supply chain, and maximization of service level of supply chain through optimum allocation of the order quantity of each product to each buyer. Various practical constraints such as product demand, shortage prevention, supply capacity of the supplier, and available storage space of the supplier are also considered. The optimization is carried out using a recently developed optimization method known as teaching-learning-based optimization (TLBO). The results of optimization are compared with those obtained by genetic algorithm (GA).