Water cycle and artificial bee colony based algorithms for optimal order allocation problem with mixed quantity discount scheme

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Publication Details

Author list: Praepanichawat C., Khompatraporn C., Jaturanonda C., Chotyakul C.

Publisher: Springer Science Business Media

Publication year: 2015

Volume number: 349

Start page: 229

End page: 239

Number of pages: 11

ISBN: 9783662471999

ISSN: 1876-1100

URL: https://www.scopus.com/inward/record.uri?eid=2-s2.0-84946074717&doi=10.1007%2f978-3-662-47200-2_26&partnerID=40&md5=8f8fd33ef655043ecfa0cdd056d26246

Languages: English-Great Britain (EN-GB)

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Abstract

Supplier selection is one of the most important activities in purchasing management. Once the suppliers are determined, the proper allocation of the order among the suppliers can greatly help the company to reduce the raw material and production costs. In this paper, the order allocation with quantity discount of a single product is considered. The product can be offered with either an all unit discount model or an incremental discount one. Since the problem is NP-hard, three metaheuristics are applied to solve the problem. The metaheuristics are water cycle algorithm, artificial bee colony algorithm and hybrid water cycle-artificial bee colony algorithm. The results obtained from these algorithms are then compared. ฉ Springer-Verlag Berlin Heidelberg 2015.

Keywords

Hybrid water cycle and artificial bee colony algorithm, Order allocation problem, Quantity discount, Water cycle algorithm