Volume & Issue no: Volume 4, Issue 5(2), September - October 2015
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Title: |
A Two Warehouse Inventory Model for Deteriorating Items with Shortages under Genetic Algorithm and PSO |
Author Name: |
Dr. Ajay Singh Yadav, Dr. Kusum Gupta, Mr. Ankur Garg, Ms. Anupam Swami |
Abstract: |
Abstract
The purpose of this article is to evaluate the value of
integrating warehouse and inventory decision. Therefore in
this paper a two warehouse inventory model for deteriorating
items is considered under assumption that the Inventory cost
(including holding cost and deterioration cost) in RW (Rented
Warehouse) is higher than those in OW (Owned Warehouse)
due to better preservation facilities in RW. The demand and
holding cost, both are taken as a variable. Shortages are
allowed in the OW fully backlogged at the next replenishment
cycle .This paper mainly dealt with deteriorating items with
linear demand and variable holding cost which is constant for
a definite time period and after that it increases linearly
according to a function of ordering cycle length in RW and
remains constant in OW. Transportation cost is incurred and
is function of distance irrespective of number of items and the
capacity of vehicle. Four kinds of meta-heuristic algorithms
or meta-heuristic hybrid algorithms: harmony search, particle
swarm optimization, genetic algorithms, simulated annealing.
Computational results showed that HS, hybrid of HS and
hybrid method of HS performed the best, based on objective
function values respect to other kind of the algorithms. Other
applications of HS in inventory and supply chain
managements can be extended to consider pricing problems. A
numerical example is presented to illustrate and validate the
model and sensitivity analysis is carried out in case-1for
different values of a parameter keeping rest unchanged.
Keywords:- Two warehouses, shortages, hybrid
algorithms, particle swarm optimization, genetic
algorithms, |
Cite this article: |
Dr. Ajay Singh Yadav, Dr. Kusum Gupta, Mr. Ankur Garg, Ms. Anupam Swami , "
A Two Warehouse Inventory Model for Deteriorating Items with Shortages under Genetic Algorithm and PSO" , International Journal of Emerging Trends & Technology in Computer Science (IJETTCS) ,
Volume 4, Issue 5(2), September - October 2015 , pp.
040-048 , ISSN 2278-6856.
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