A Scatter Search Algorithm for Multi-Criteria Inventory Classification considering Multi-Objective Optimization

Inventory management requires thousands or millions of individual transactions each year. Classification the items influences results inventory management. Traditionally, this is usually classified with considering an annual dollar usage criterion but maybe other criteria such as lead time, criticality, perishability, cost, and demand type can be affected on that classification. have more than one are discussed under multi-criteria classification (MCIC) methods in literature. In paper, MCIC problem considered two objectives follows: (1) minimization total relevant cost (2) dissimilarity index. The proposed Mixed Integer Nonlinear Programming (MINLP) model formulated using Scatter Search Algorithm (SSA). suggested multi-objective optimization solved LP-metric, ɛ-constraint weighted sum method. Pareto optimal solutions obtained according to these different selected best method by deviation provides high-quality within reasonable computation times. generated a frontier solution maximum satisfaction level minimum distance from ideal point. Finally, implemented numerical datasets show performance its efficiency compared our studies previous