A Proposed Extended Version of the Hadi-Vencheh Model to Improve Multiple-Criteria ABC Inventory Classification

The ABC classification problem is approached as a ranking problem by the most current classification models; that is, a group of inventory items is expressed according to its overall weighted score of criteria in descending order. In this paper, we present an extended version of the Hadi-Vencheh mod...

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Vydané v:Applied sciences Ročník 10; číslo 22; s. 8233
Hlavní autori: Lin, Pei-Chun, Chang, Hung-Chieh
Médium: Journal Article
Jazyk:English
Vydavateľské údaje: Basel MDPI AG 01.11.2020
Predmet:
Algorithms
Automatic classification
Classification
Decision making
Hadi-Vencheh model
Inventory
Inventory control
Inventory management
Linear programming
Methods
multiple criteria ABC inventory classification
non-linear programming
nonlinear weighted product model
Optimization
Order picking systems
Subjectivity
Technology application
Taiwan
ISSN:2076-3417, 2076-3417
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Shrnutí:The ABC classification problem is approached as a ranking problem by the most current classification models; that is, a group of inventory items is expressed according to its overall weighted score of criteria in descending order. In this paper, we present an extended version of the Hadi-Vencheh model for multiple-criteria ABC inventory classification. The proposed model is one based on the nonlinear weighted product method (WPM), which determines a common set of weights for all items. Our proposed nonlinear WPM incorporates multiple criteria with different measured units without converting the performance of each inventory item, in terms of converting each criterion into a normalized attribute value, thereby providing an improvement over the model proposed by Hadi-Vencheh. Our study mainly includes various criteria for ABC classification and demonstrates an efficient algorithm for solving nonlinear programming problems, in which the feasible solution set does not have to be convex. The algorithm presented in this study substantially improves the solution efficiency of the canonical coordinates method (CCM) algorithm when applied to large-scale, nonlinear programming problems. The modified algorithm was tested to compare our proposed model results to the results derived using the Hadi-Vencheh model and demonstrate the algorithm’s efficacy. The practical objectives of the study were to develop an efficient nonlinear optimization solver by optimizing the quality of existing solutions, thus improving time and space efficiency.
Bibliografia:ObjectType-Article-1
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content type line 14
ISSN:2076-3417
2076-3417
DOI:10.3390/app10228233