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Shvoong Home>Science>Alternative Approach to Deterministic Inventory Problem Summary

Alternative Approach to Deterministic Inventory Problem

Article Summary   by:fadzlina     Original Authors: Mohd Omar; Noor Hasnah Moin
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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 modeling in Microsoft Excel Solver. Numerical results from our examples showed that both procedures produced optimal solutions reported in the literature.
Published: April 03, 2007   
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