Vol. 1, Issue 2 (2016)
A review on supply chain optimization (Inbound & Outbound)
Author(s): Chiranjibi Rambabu Achary A, Karteek Madapana, Debasis Mohanty, Debasis Mohapatro
Abstract: Today companies are undergoing major changes to cope with the new challenges of the modern economy. The globalization of the business, the diversity and complexity of products, the increasing tightness of capital, and the diminishing protection provided by patents are some of the factors driving these changes. All stages of the business value chain are affected: from the development of new products to the management of the manufacturing and marketing networks. This paper describes an optimization-based approach to selecting both a product development and introduction strategy and a capacity planning and investment strategy. In this study, Lead Logistics Provider (LLP), multimodal logistics, Vendor Managed Inventory (VMI) & Third-Party Logistics (3PL) model is proposed to address this multi-objective problem with the integration of non-relaxable constraints and relaxable constraints. An illustrative example is presented to demonstrate the applicability of the proposed model.
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