Optimisation of the replenishment problem in the Fashion Retail Industry using Tabu-Bees algorithm. Issue 12 (2016)

• Record Type: Journal Article
• Authors: Martino, Giada; Yuce, Baris; Iannone, Raffaele; Packianather, Michael S.
• Is Part Of: IFAC-PapersOnLine. Volume 49:Issue 12(2016)
• Page Start: 1685
• Page End: 1690
• Publication Date: 2016
• Subjects: Basic Bees Algorithm -- Tabu Search -- Tabu-Bees Algorithm -- Swarm Intelligence -- Optimisation -- Replenishment -- Fashion Retail -- Apparel Industry -- Supply Chain Management; Automatic control -- Periodicals; 629.805
• DOI: 10.1016/j.ifacol.2016.07.823
• Languages: English
• ISSNs: 2405-8963

Abstract

Abstract: The problem of properly allocating several different products in the stores network is one of the crucial processes in the Retail Industry. This means trying to meet market demand and at the same time reducing logistics costs. In this context, main aims of the presented work are to (a) otpimise the replenishment process for the retailer's network of companies with multi-product multi-store configuration and (b) propose a new algorithm which combines the Basic Bees algorithm, a swarm based optimization technique, with the Tabu-Search principles. Attention is focused on the particular case of lost sales and budget constraints for a fashion company. Simulation results show that the use of the Tabu-Bees algorithm can guarantee an average 10% improvement in results allowing the model to overcome local minima.