A genetic algorithmic approach on a deterministic inventory model for deteriorating items with shortages

摘要

To determine an optimal solution of a deterministic inventory model of single deteriorating items with a constant rate of deterioration using a genetic algorithm. The present paper focuses on the implementation of a genetic algorithm (GA) in inventory management. In inventory management, deterioration of items as a result of damages/decay/vaporization or effected by some other factors affects the perfect condition to satisfy demand. Hence, in this paper, the authors have developed an inventory model using GA for a single item that deteriorates at a constant rate. The demand rate is a ramp type function of time. Shortages are allowed and partially backlogged. The rate of backlogging is dependent on the waiting time and the problem is solved by a genetic algorithm (GA) approach.