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Alternative Approach to Deterministic Inventory Problem

Mohd Omar, and Noor Hasnah Moin, (2002) Alternative Approach to Deterministic Inventory Problem. Matematika, 18 (2). pp. 91-98. ISSN 01278274

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Official URL: http://www.fs.utm.my/matematika/images/stories/matematika/200218203.pdf

Affiliations

University of Malaya, Institute of Mathematical Sciences
University of Malaya, Institute of Mathematical Sciences

Abstract

This paper addresses the problem of determining the best policy for an inventory replenishment with continuous deterministic time-varying demand over a finite planning horizon. We determine when to replenish and how much for each batch. We propose a genetic algorithm procedure which is based on Darwin’s survival of the fittest principle and a method using spreadsheet modelling in Microsoft Excel Solver. Numerical results from our examples showed that both procedures produced optimal solutions reported in the literature.

Item Type:Journal
Keywords:Time-Varying Demand, Genetic Algorithm, Spreadsheet Modelling and Inventory.
Subjects:Q Science, Computer Science
ID Code:5713

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[12] M. Omar, R.M. Hill, and D.K. Smith, Stock replenishment policies for deterministic linear decreasing demand with a finite input rate, Jurnal Sains 8:1(2000), 977-986.

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