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280719

Optimizing Cash Flow of Construction Projects through Material Procurement Plans

Article

Last updated: 30 Dec 2024

Subjects

-

Tags

Durability and Life Prediction of Structures

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.  

DOI

10.21608/asge.2022.280719

Keywords

Construction projects, Cash Flow, Material Procurement, Optimization, Genetic Algorithm, artificial intelligence

Volume

06

Article Issue

02

Related Issue

38152

Issue Date

2022-05-01

Receive Date

2023-01-16

Publish Date

2022-05-01

Page Start

131

Page End

141

Print ISSN

2785-9509

Online ISSN

2812-5142

Link

https://asge.journals.ekb.eg/article_280719.html

Detail API

https://asge.journals.ekb.eg/service?article_code=280719

Order

11

Type

Original Article

Type Code

2,140

Publication Type

Journal

Publication Title

International Journal of Advances in Structural and Geotechnical Engineering

Publication Link

https://asge.journals.ekb.eg/

MainTitle

Optimizing Cash Flow of Construction Projects through Material Procurement Plans

Details

Type

Article

Created At

30 Dec 2024