A Multi-Periodic Multi-Product Inventory Control Problem with Discount: GA Optimization Algorithm
In this article, a finite horizon, multi product and multi period economic order quantity like seasonal items is considered where demand rate is deterministic and known but variable in each period. The order quantities of items come in batch sizes and the end of the period order quantity and, conse...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Islamic Azad University, Qazvin Branch
2011-01-01
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| Series: | Journal of Optimization in Industrial Engineering |
| Subjects: | |
| Online Access: | http://www.qjie.ir/article_65_c5ed9d22c6a9038cbfe2ac60d30cc86b.pdf |
| Summary: | In this article, a finite horizon, multi product and multi period economic order quantity like seasonal items is considered where demand rate is deterministic and known but variable in each period. The order quantities of items come in batch sizes and the end of the period order
quantity and, consequently, demand of customers are zero. In addition, storage space is constrained and the problem was considered under all units discount (AUD) policy. The modeling technique used for this problem is mixed binary integer programming. The objective was to
find the minimization optimal order quantities under time value of money over the finite horizon. The inventory control system costs include three costs: ordering cost, holding cost, and purchase cost. In order to solve the proposed model, a genetic algorithm (GA) is applied. Finally, we provide a number of examples in order to illustrate the algorithms further. |
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| ISSN: | 2251-9904 2423-3935 |