Optimizing Cash Flow of Construction Projects through Material Procurement Plans | ||||
| International Journal of Advances in Structural and Geotechnical Engineering | ||||
| Article 11, Volume 06, Issue 02, May 2022, Page 131-141 PDF (676.82 K) | ||||
| Document Type: Original Article | ||||
| DOI: 10.21608/asge.2022.280719 | ||||
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| Abstract | ||||
| There is a widely held perception in many parts of the world today that the construction industry has long been a major component of the economies of the world industrialized nations. Admittedly, the issue of whether we should attempt to maximize contractor profit is certainly a contentious one. Cash flow management is an umbrella term that aims for achieving many objectives such as cash flow prediction, optimization, and monitoring and controlling. Reliable knowledge of project cash flow is essential for effective project management. Efficient planning of materials procurement and storage on construction sites can lead to significant improvements in construction productivity and project profitability. Nonetheless, researchers have proposed evolutionary-based algorithms for searching near-optimum solutions to overcome this source of trouble. In order to maximize contractor’s profit, therefore, this research illustrates a significant optimizing model that nominates the optimum material procurement plans for contracting firm which makes the maximum monthly overdraft is minimum and furthermore, the cumulative expenses is minimum employing Genetic algorithm the magnificent artificial intelligence modeling technique. | ||||
| Keywords | ||||
| Construction projects; Cash Flow; Material Procurement; Optimization; Genetic Algorithm; Artificial Intelligence | ||||
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