A hybrid evolutionary model for supplier assessment and selection in inbound logistics

Abstract

© 2014 Elsevier B.V. All rights reserved. Business stability, quality, safety, supply chain flexibility and cost optimization have an increasing role in companies that strive to stay and survive in the market competition. A wise supplier choice becomes ever more important prerequisite for the success of any company. This paper presents a novel hybrid model for supplier assessment and selection, based on hybrid solution including genetic algorithm (GA) and harmony search algorithm (HSA). The chosen data set presents original data which is used for assessment in "Lames" company. The results show that HSA & GA value constraint model is slightly more restricted than other discussed models, and separates, much better and with greater precision, poor companies from the good ones in business environment.