Title

Online Inventory Control Using A Multiobjective Six Sigma Approach

Keywords

Inventory control; Multiobjective optimization; Online process control; Six Sigma

Abstract

In industrial manufacturing and service environments, it is important to develop or modify objectives for operating a process in order to incorporate the changes that contributed to the improvement; however, these objectives are usually conflict with each other. Additionally, in order to maintain consistency in process performance and sustain improvements, a reliable process control plan is required. This paper utilizes an innovative integrated multiobjective Six Sigma optimization approach for online inventory management. The approach provides automated feedback for out-of-control events while attempting to balance two common, relevant and conflicting objectives - minimization of the inventory holding cost and minimization of the inventory ordering cost.

Publication Date

1-1-2013

Publication Title

IIE Annual Conference and Expo 2013

Number of Pages

3375-3383

Document Type

Article; Proceedings Paper

Personal Identifier

scopus

Socpus ID

84900313610 (Scopus)

Source API URL

https://api.elsevier.com/content/abstract/scopus_id/84900313610

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