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Article

A Proposed Extended Version of the Hadi-Vencheh Model to Improve Multiple-Criteria ABC Inventory Classification

1
Department of Transportation and Communication Management Science, National Cheng Kung University, Tainan 701, Taiwan
2
Department of Mathematics, Southwestern Oklahoma State University, Weatherford, OK 73096, USA
*
Author to whom correspondence should be addressed.
Appl. Sci. 2020, 10(22), 8233; https://doi.org/10.3390/app10228233
Received: 23 October 2020 / Revised: 16 November 2020 / Accepted: 17 November 2020 / Published: 20 November 2020
(This article belongs to the Special Issue Planning and Scheduling Optimization)
The ABC classification problem is approached as a ranking problem by the most current classification models; that is, a group of inventory items is expressed according to its overall weighted score of criteria in descending order. In this paper, we present an extended version of the Hadi-Vencheh model for multiple-criteria ABC inventory classification. The proposed model is one based on the nonlinear weighted product method (WPM), which determines a common set of weights for all items. Our proposed nonlinear WPM incorporates multiple criteria with different measured units without converting the performance of each inventory item, in terms of converting each criterion into a normalized attribute value, thereby providing an improvement over the model proposed by Hadi-Vencheh. Our study mainly includes various criteria for ABC classification and demonstrates an efficient algorithm for solving nonlinear programming problems, in which the feasible solution set does not have to be convex. The algorithm presented in this study substantially improves the solution efficiency of the canonical coordinates method (CCM) algorithm when applied to large-scale, nonlinear programming problems. The modified algorithm was tested to compare our proposed model results to the results derived using the Hadi-Vencheh model and demonstrate the algorithm’s efficacy. The practical objectives of the study were to develop an efficient nonlinear optimization solver by optimizing the quality of existing solutions, thus improving time and space efficiency. View Full-Text
Keywords: non-linear programming; Hadi-Vencheh model; multiple criteria ABC inventory classification; nonlinear weighted product model non-linear programming; Hadi-Vencheh model; multiple criteria ABC inventory classification; nonlinear weighted product model
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MDPI and ACS Style

Lin, P.-C.; Chang, H.-C. A Proposed Extended Version of the Hadi-Vencheh Model to Improve Multiple-Criteria ABC Inventory Classification. Appl. Sci. 2020, 10, 8233. https://doi.org/10.3390/app10228233

AMA Style

Lin P-C, Chang H-C. A Proposed Extended Version of the Hadi-Vencheh Model to Improve Multiple-Criteria ABC Inventory Classification. Applied Sciences. 2020; 10(22):8233. https://doi.org/10.3390/app10228233

Chicago/Turabian Style

Lin, Pei-Chun, and Hung-Chieh Chang. 2020. "A Proposed Extended Version of the Hadi-Vencheh Model to Improve Multiple-Criteria ABC Inventory Classification" Applied Sciences 10, no. 22: 8233. https://doi.org/10.3390/app10228233

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