A Multi-objective Mathematical Model for Sustainable Supplier Selection and Order Lot-sizing under Inflation

Recently, scholars and practitioners have shown an increased interest in the field of sustainablesupplier selection and order lot-sizing. While several studies have recently been carried out on thisfield, far too little attention has been given to formulating a multi-objective model for the integratedproblem of multi-period multi-product order lot-sizing and sustainable supplier selection underinflationary conditions. In this study, a mathematical model for multi-period multi-product lot-sizingand sustainable supplier selection under the effects of inflation is developed. The proposed modelincludes four objective functions which minimize total cost and maximize total social, totalenvironmental, and total economic qualitative scores. The model attempts to simultaneously balancedifferent costs under inflationary conditions to optimize the total cost of purchasing and other objectivefunctions. The applicability of the proposed model is shown by an illustrative example. The resultsshow that the proposed model can provide an effective purchasing plan for the company whilemonitoring the effect of inflation and assuaging its concerns regarding sustainability issues.