Order Strategy Based on Analysis of Inventory Cost of the Construction Materials in the Construction Engineering Supply Chain
Author(s):
H. X. Yang, J. Q. Hao, Z. L. Mei, & Jacky K. H. Chung
Source:
H. X. Yang, J. Q. Hao, Z. L. Mei, & Jacky K. H. Chung, “Order Strategy Based on Analysis of Inventory Cost of the Construction Materials in the Construction Engineering Supply Chain”, Journal of Mechanical Engineering Research and Developments, vol. 40, no. 1, pp. 88-103, 2017.
ABSTRACT: First, dynamic analysis was conducted for the inventory status of the construction materials in the construction engineering supply chain, and uniform and continuous transformation was carried out for the demand of the construction materials to match with the classical Economic Order Quantity Model (EOQ) model, providing the basis for the construction of model of inventory cost of the construction materials. Second, from the point of view of one-off order and each order strategies for all stages of a sub-project, the model of minimum inventory cost based on the order strategy of established stage was summarized. By setting the order variable of order point (01), a relationship between inventory cost model of the construction materials in the construction engineering supply chain and genetic algorithm was established, by writing the program conforming to the model, operation and solution were performed by using the matlab software, thus, the order strategy of the optimal order point and order quantity in the construction engineering supply chain were obtained.
Keywords: Construction engineering supply chain; Inventory cost; Genetic algorithm; Construction materials; Order strategy.