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Multi-Item Multiperiodic Inventory Control Problem with Variable Demand and Discounts: A Particle Swarm Optimization Algorithm
Joint Authors
Mousavi, Seyed Mohsen
Bahreininejad, Ardeshir
Musa, Siti Nurmaya
Niaki, Seyed Taghi Akhavan
Source
Issue
Vol. 2014, Issue 2014 (31 Dec. 2014), pp.1-16, 16 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2014-06-30
Country of Publication
Egypt
No. of Pages
16
Main Subjects
Medicine
Information Technology and Computer Science
Abstract EN
A multi-item multiperiod inventory control model is developed for known-deterministic variable demands under limited available budget.
Assuming the order quantity is more than the shortage quantity in each period, the shortage in combination of backorder and lost sale is considered.
The orders are placed in batch sizes and the decision variables are assumed integer.
Moreover, all unit discounts for a number of products and incremental quantity discount for some other items are considered.
While the objectives are to minimize both the total inventory cost and the required storage space, the model is formulated into a fuzzy multicriteria decision making (FMCDM) framework and is shown to be a mixed integer nonlinear programming type.
In order to solve the model, a multiobjective particle swarm optimization (MOPSO) approach is applied.
A set of compromise solution including optimum and near optimum ones via MOPSO has been derived for some numerical illustration, where the results are compared with those obtained using a weighting approach.
To assess the efficiency of the proposed MOPSO, the model is solved using multi-objective genetic algorithm (MOGA) as well.
A large number of numerical examples are generated at the end, where graphical and statistical approaches show more efficiency of MOPSO compared with MOGA.
American Psychological Association (APA)
Mousavi, Seyed Mohsen& Niaki, Seyed Taghi Akhavan& Bahreininejad, Ardeshir& Musa, Siti Nurmaya. 2014. Multi-Item Multiperiodic Inventory Control Problem with Variable Demand and Discounts: A Particle Swarm Optimization Algorithm. The Scientific World Journal،Vol. 2014, no. 2014, pp.1-16.
https://search.emarefa.net/detail/BIM-1048421
Modern Language Association (MLA)
Mousavi, Seyed Mohsen…[et al.]. Multi-Item Multiperiodic Inventory Control Problem with Variable Demand and Discounts: A Particle Swarm Optimization Algorithm. The Scientific World Journal No. 2014 (2014), pp.1-16.
https://search.emarefa.net/detail/BIM-1048421
American Medical Association (AMA)
Mousavi, Seyed Mohsen& Niaki, Seyed Taghi Akhavan& Bahreininejad, Ardeshir& Musa, Siti Nurmaya. Multi-Item Multiperiodic Inventory Control Problem with Variable Demand and Discounts: A Particle Swarm Optimization Algorithm. The Scientific World Journal. 2014. Vol. 2014, no. 2014, pp.1-16.
https://search.emarefa.net/detail/BIM-1048421
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-1048421