Multicriteria ABC Inventory Classification Using the Social Choice Theory

Social Choice Theory and Multicriteria Decision Aiding

Many organizations face such complex and important management problems that they sometimes want their decisions to be somehow supported by a ‘scientific approach’, sometimes called a decision analysis. The analyst in charge of this preparation faces many diverse tasks: stakeholders identification, problem statement, elaboration of a list of possible actions, definition of one or several criteri...

Multicriteria inventory classification using a genetic algorithm

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-off points. A new crossover operation, called continuous uniform crossover, is proposed, such tha...

Management of Multicriteria Inventory Classification

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 p...

A Genetic Algorithm for Multicriteria Inventory Classification

One of application areas of the 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-oo points. A new cross-over operation, called continuous uniform crossover, is proposed, such tha...

Using DEA to compute most favourable and least favourable sets of weights in ABC inventory classification