OPTIMAL PRODUCTION INTEGRATED INVENTORY MODEL WITH QUADRATIC DEMAND FOR DETERIORATING ITEMS UNDER INFLATION USING GENETIC ALGORITHM

Isha Talati, Poonam Mishra

Resumen


This paper is a production integrated inventory model between manufacturer and retailer with quadratic demand and time
dependent deterioration. Paper also considers effect of inflation on total cost. Manufacturer offers lot size dependent ordering
cost to boost higher orders as well as it decreases manufacturer’s inventory holding cost significantly. Total cost of model is
obtained using both classical optimization technique and genetic algorithm. Results clearly show that GA has succeeded in
obtaining global minimum whereas classical method has stuck with local minimum. For using classical optimization technique
we have used Maple 18 whereas for genetic algorithm we have used MATLAB R2013a.The optimal solution of this model is
illustrated using numerical example. Sensitivity for inflation and other parameters of demand has been carried out to analyse
their effect on total cost. This paper will encourage researchers involve in inventory and supply chain management to optimize
complex problems using different evolutionary search algorithm in order to reach to global optimum.
KEYWORDS: Integrated inventory, time dependent deterioration, genetic algorithm, lot size dependent ordering cost, time
dependent quadratic demand, inflation
MSC: 90B05

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