Multi-supplier, multi-objective supply chain cost-optimization model

Abstract

This study proposes a multi-objective linear programming (MOLP) model for sustainable supply chain design to reduce procurement cost by particle swarm optimization (PSO) technique and durable correlation among buyers and vendors in today’s aggressive state. In this proposed model, a buyer selects one or more suppliers and orders the products in an appropriate quantity. This tentative study measures the fundamental standards of issues such as cost, delivery, and delay. The assessment of multicriteria decision making issues and computations of procurement cost, quantity of defective items, and delay days of delivery are accomplished, although the data used in this model have been taken from the validated model of fuzzy inference system. A pioneer automobile industrial data set has been used to validate the results, where MOLP costoptimization model by PSO has resulted in 3.11% cost reduction in total procurement cost.