A capital flow constrained lot sizing problem with trade credit

Chen, Z.; Zhang, R.Q.

doi:10.24200/sci.2017.4444

Cited by 4 publications

(5 citation statements)

References 31 publications

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“…This is particularly important in the context of lot sizing problems, where finding the global optimum is crucial for efficient production planning and goods flow control [73]. Additionally, GAs have been applied to solve single-item lot sizing problems with immediate lost sales in profit maximization models, demonstrating their versatility in addressing different variations of lot sizing problems [74]. optimization problems [75].…”

Section: Solution Approach-based Genetic Algorithmmentioning

confidence: 99%

Balancing Inventory Management: Genetic Algorithm Optimization for A Novel Dynamic Lot Sizing Model in Perishable Product Manufacturing

Leuveano,

Asih,

Ridho

et al. 2023

Journal of Robotics and Control

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In Indonesia, the significant role of perishable products in food wastage has placed the country fourth globally in household food waste. Managing inventory for such products, with their short shelf life and stringent safety standards, emphasizes the need for efficient lot sizing planning. This study introduces a novel Dynamic Lot-Sizing (DLS) model, addressing perishable products and inventory constraints across multiple products, periods, and varying demands. The model aims to optimize production quantity and binary production, minimizing overall system costs. Employing a Genetic Algorithm (GA), this research solves the DLS model under constrained and unconstrained inventory capacities. Real-case data from a bread manufacturing company validates the model, while sensitivity analysis examines perishability's impact on the solution and model performance. The DLS-GA model not only reduces system costs but also effectively considers product perishability, offering optimal production plans.

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Section: Solution Approach-based Genetic Algorithmmentioning

confidence: 99%

Balancing Inventory Management: Genetic Algorithm Optimization for A Novel Dynamic Lot Sizing Model in Perishable Product Manufacturing

Leuveano,

Asih,

Ridho

et al. 2023

Journal of Robotics and Control

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“…Chen and Zhang [20] incorporated capital flow constraints and trade credit to lot-sizing problems. They formulate a mathematical model for this problem.…”

Section: Literature Reviewmentioning

confidence: 99%

“…20) represent that if the setup of product i of family j has occurred and product i is first or single product of family j in level z and during period t then…”

mentioning

confidence: 99%

Capacitated lot-sizing and production sequence problem with setups complexity

Behnamian,

Fatemi Ghomi,

Karimi

et al. 2022

Scientia Iranica

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This paper considered the multi-product multi-level multi-period capacitated lot-sizing and sequencing problem with setup carry-over and sequence-dependent family setup times and costs. A formulation of the problem was provided as a mixed-integer nonlinear programming model. To propose this formulation, first, the mixed-integer nonlinear of the problem was linearized, and then converted to a mixed-integer linear program. To solve large-size instances of the problem, then, a lower bound was provided. The results confirmed the efficiency of the proposed model compared to previous models in terms of the runtime and the number of defined variables and constraints. Since this problem is NP-hard and adding other factors such as family setups, setup carry over and sequence-dependent setups increase its complexity, in this paper, a genetic algorithm (GA) was applied in large-size dimensions and its results were compared with the proposed lower bound. The numerical results showed that there is no significant difference between the results of the proposed GA and lower bound, and, so, the GA had been able to approach the optimal solution.

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“…(2018) investigated the working capital requirement and demonstrated that the zero‐inventory‐ordering property remains valid in this problem. Chen and Zhang (2018) discussed a cash‐constrained lot‐sizing model with trade credit.…”

Section: Literature Reviewmentioning

confidence: 99%

A cash‐constrained dynamic lot‐sizing problem with loss of goodwill and credit‐based loan

Zhen

Zhang

2019

Int Trans Operational Res

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We introduce capital flow constraints, loss of good will and loan to the lot sizing problem. Capital flow constraint is different from traditional capacity constraints: when a manufacturer launches production, its present capital should not be less than its present total production cost; otherwise, it must decrease production quantity or suspend production. Unsatisfied demand in one period may cause customer's demand to shrink in the next period considering loss of goodwill. Fixed loan can be adopted in the starting period for production. A mixed integer model for a deterministic single-item problem is constructed. Based on the analysis about the structure of optimal solutions, we approximate it to a traveling salesman problem, and divide it into sub-linear programming problems without integer variables. A forward recursive algorithm with heuristic adjustments is proposed to solve it. When unit variable production costs are equal and goodwill loss rate is zero, the algorithm can obtain optimal solutions. Under other situations, numerical comparisons with CPLEX 12.6.2 show our algorithm can reach optimal in most cases and has computation time advantage for large-size problems. Numerical tests also demonstrate that initial capital availability as well as loan interest rate can substantially affect the manufacturer's optimal lot sizing decisions.

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A capital flow constrained lot sizing problem with trade credit

Cited by 4 publications

References 31 publications

Balancing Inventory Management: Genetic Algorithm Optimization for A Novel Dynamic Lot Sizing Model in Perishable Product Manufacturing

Balancing Inventory Management: Genetic Algorithm Optimization for A Novel Dynamic Lot Sizing Model in Perishable Product Manufacturing

Capacitated lot-sizing and production sequence problem with setups complexity

A cash‐constrained dynamic lot‐sizing problem with loss of goodwill and credit‐based loan

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