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: | , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Islamic Azad University, Qazvin Branch
2011-01-01
|
| Series: | Journal of Optimization in Industrial Engineering |
| Subjects: | |
| Online Access: | http://www.qjie.ir/article_65_c5ed9d22c6a9038cbfe2ac60d30cc86b.pdf |
| _version_ | 1818944791629529088 |
|---|---|
| author | Seyed Mohsen Mousavi Seyed Hamidreza Pasandideh |
| author_facet | Seyed Mohsen Mousavi Seyed Hamidreza Pasandideh |
| author_sort | Seyed Mohsen Mousavi |
| collection | DOAJ |
| description | 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. |
| first_indexed | 2024-12-20T07:48:50Z |
| format | Article |
| id | doaj.art-accb0a2c59094052885997f2ea9fe7b4 |
| institution | Directory Open Access Journal |
| issn | 2251-9904 2423-3935 |
| language | English |
| last_indexed | 2024-12-20T07:48:50Z |
| publishDate | 2011-01-01 |
| publisher | Islamic Azad University, Qazvin Branch |
| record_format | Article |
| series | Journal of Optimization in Industrial Engineering |
| spelling | doaj.art-accb0a2c59094052885997f2ea9fe7b42022-12-21T19:47:54ZengIslamic Azad University, Qazvin BranchJournal of Optimization in Industrial Engineering2251-99042423-39352011-01-01Volume 4Issue 7374465A Multi-Periodic Multi-Product Inventory Control Problem with Discount: GA Optimization AlgorithmSeyed Mohsen Mousavi0Seyed Hamidreza Pasandideh1MSc, Faculty of Industrial and Mechanical Engineering, Qazvin Branch, Islamic Azad University, Qazvin, IranAssistant Professor, Faculty of Industrial and Mechanical Engineering, Qazvin Branch, Islamic Azad University, Qazvin, IranIn 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.http://www.qjie.ir/article_65_c5ed9d22c6a9038cbfe2ac60d30cc86b.pdfInventory control systemAll unit discountTime value of moneyMulti-itemMulti-periodGenetic Algorithm |
| spellingShingle | Seyed Mohsen Mousavi Seyed Hamidreza Pasandideh A Multi-Periodic Multi-Product Inventory Control Problem with Discount: GA Optimization Algorithm Journal of Optimization in Industrial Engineering Inventory control system All unit discount Time value of money Multi-item Multi-period Genetic Algorithm |
| title | A Multi-Periodic Multi-Product Inventory Control Problem with Discount: GA Optimization Algorithm |
| title_full | A Multi-Periodic Multi-Product Inventory Control Problem with Discount: GA Optimization Algorithm |
| title_fullStr | A Multi-Periodic Multi-Product Inventory Control Problem with Discount: GA Optimization Algorithm |
| title_full_unstemmed | A Multi-Periodic Multi-Product Inventory Control Problem with Discount: GA Optimization Algorithm |
| title_short | A Multi-Periodic Multi-Product Inventory Control Problem with Discount: GA Optimization Algorithm |
| title_sort | multi periodic multi product inventory control problem with discount ga optimization algorithm |
| topic | Inventory control system All unit discount Time value of money Multi-item Multi-period Genetic Algorithm |
| url | http://www.qjie.ir/article_65_c5ed9d22c6a9038cbfe2ac60d30cc86b.pdf |
| work_keys_str_mv | AT seyedmohsenmousavi amultiperiodicmultiproductinventorycontrolproblemwithdiscountgaoptimizationalgorithm AT seyedhamidrezapasandideh amultiperiodicmultiproductinventorycontrolproblemwithdiscountgaoptimizationalgorithm AT seyedmohsenmousavi multiperiodicmultiproductinventorycontrolproblemwithdiscountgaoptimizationalgorithm AT seyedhamidrezapasandideh multiperiodicmultiproductinventorycontrolproblemwithdiscountgaoptimizationalgorithm |