TY - JOUR

T1 - Solving a novel multi-objective inventory location problem by means of a local search algorithm

AU - Lagos, Carolina

AU - Vega, Jorge

AU - Guerrero, Guillermo

AU - Rubio, Jose Miguel

N1 - Publisher Copyright:
© 2017, All Rights Reserved.

PY - 2016

Y1 - 2016

N2 - Problems in operations research are usually modelled as single objective ones even though there exist several goals that should be attained. Multiple reasons of why inherently multi-objective problems are modelled as single objective can be identified: better understanding of the problem features, simplification of the mathematical formulation of the problem, among others. However, summarising (usually conflicting) objectives into one objective function can be a sign of over-simplification in the problem modelling process. In this paper we extend a single objective inventory location problem formulation to a multi-objective one. We consider two conflicting objectives, namely, location cost and inventory cost. As a result, we obtain a complex multi-objective non-linear integer programming problem. Like its single objective formulation, this multi-objective problem cannot be solved by exact methods as the number of decision variables increases. Thus, a simple yet effective multi-objective local search algorithm is implemented in this paper.

AB - Problems in operations research are usually modelled as single objective ones even though there exist several goals that should be attained. Multiple reasons of why inherently multi-objective problems are modelled as single objective can be identified: better understanding of the problem features, simplification of the mathematical formulation of the problem, among others. However, summarising (usually conflicting) objectives into one objective function can be a sign of over-simplification in the problem modelling process. In this paper we extend a single objective inventory location problem formulation to a multi-objective one. We consider two conflicting objectives, namely, location cost and inventory cost. As a result, we obtain a complex multi-objective non-linear integer programming problem. Like its single objective formulation, this multi-objective problem cannot be solved by exact methods as the number of decision variables increases. Thus, a simple yet effective multi-objective local search algorithm is implemented in this paper.

KW - Combinatorial optimisation

KW - MO inventory location

KW - MO local search

UR - http://www.scopus.com/inward/record.url?scp=85012974083&partnerID=8YFLogxK

U2 - 10.24846/v25i2y201606

DO - 10.24846/v25i2y201606

M3 - Article

AN - SCOPUS:85012974083

VL - 25

SP - 189

EP - 194

JO - Studies in Informatics and Control

JF - Studies in Informatics and Control

SN - 1220-1766

IS - 2

ER -