Proceedings of the Genetic and Evolutionary Computation Conference Companion | 2019
Modelling and solving the combined inventory routing problem with risk consideration
Abstract
This work proposes a multi-objective extension of a real-world inventory routing problem (IRP), a generalisation of the classical vehicle routing problem (VRP) with vendor managed inventory (VMI) replenishment. While many mathematical formulations and solution models already exist, this study incorporates business-related and risk considerations that makes it unique. It is known that a significant volume of hazardous materials travels every day. Consideration of risks arising from the transportation of hazardous materials as a criterion for selecting distribution routes could potentially reduce the likelihood of accidents and/or the expected consequences of accidents.