Abstract
In practice, suppliers often provide retailers with forward financing to increase demand or decrease inventory. This paper proposes a new and practical joint replenishment and delivery (JRD) model by considering trade credit. However, because of the complex mathematical properties of JRD, high-quality solutions to the problem have eluded researchers. We design an effective hybrid differential evolution algorithm based on simulated annealing (HDE-SA) that can resolve this non-deterministic polynomial hard problem in a robust and precise way. After determining the suitable parameters by a parameter-tuning test, we verify the performance of the HDE-SA through numerical JRD examples. Compared with the results of other popular evolutionary algorithms, results of randomly generated JRDs indicate that HDE-SA can always obtain slightly lower total costs than differential evolution algorithm (DE) and genetic algorithm (GA) under different situations. Moreover, the convergence rate of the HDE-SA is higher than that of DE and GA. Thus, the proposed HDE-SA is a potential tool for the JRD with trade credit.
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Zeng, YR., Peng, L., Zhang, J. et al. An Effective Hybrid Differential Evolution Algorithm Incorporating Simulated Annealing for Joint Replenishment and Delivery Problem with Trade Credit. Int J Comput Intell Syst 9, 1001–1015 (2016). https://doi.org/10.1080/18756891.2016.1256567
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DOI: https://doi.org/10.1080/18756891.2016.1256567