One of the application areas of genetic algorithms is parameter optimization. This paper addresses the problem of optimizing a set of parameters that represent the weights of criteria, where the sum of all weights is 1. A chromosome represents the values of the weights, possibly along with some cut-
Management of multicriteria inventory classification
β Scribed by Benito E. Flores; David L. Olson; V.K. Dorai
- Publisher
- Elsevier Science
- Year
- 1992
- Tongue
- English
- Weight
- 1005 KB
- Volume
- 16
- Category
- Article
- ISSN
- 0895-7177
No coin nor oath required. For personal study only.
β¦ Synopsis
The most common method that materials managers use for classifying inventory items for planning and control purposes is the annual-dollar-usage ranking method (ABC classification). Recently, it has been suggested that multiple criteria ABC classification can provide a more comprehensive managerial approach, allowing consideration of other criteria such as lead time and criticality. This paper proposes the use of the Analytic Hierarchy Process (AHP) to reduce these multiple criteria to a univariate and consistent measure to consider multiple inventory management objectives.
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