Name
Title | ||
|---|---|---|
Inventory of damageable items with variable replenishment and unit production cost via simulated annealing method |
Abstract | ||
|---|---|---|
Items made of glass, ceramic, etc. are normally stored in stacks and get damaged during the storage due to the accumulated stress of heaped stock. The researchers have overlooked the inventory problems for this type of items. Again the classical iterative optimization techniques very often stuck to the local optimum present in the search space. This is one of the hindrances in optimizing the non-linear problems.Annealing is the physical process of heating up a solid until it melts followed by cooling it down until it crystallizes into a state with perfect lattice. Following this physical phenomenon, recently a soft computing method, Simulated Annealing (SA), has been developed to find the global optimum for a complex cost surface through stochastic search process.In this paper, a deterministic inventory model of a damageable item is developed with variable replenishment rate and unit production cost. Here replenishment rate and unit production cost are dependent on demand. Demand and damageability are stock dependent. This dependency may be linear or non-linear. The optimum inventory level is evaluated by the profit maximization principle through SA algorithm. The model is illustrated numerically with different forms of demand and damage functions. |
Year | DOI | Venue |
|---|---|---|
2005 | 10.1016/j.cie.2005.07.004 | Computers & Industrial Engineering |
Keywords | Field | DocType |
damageable item,physical phenomenon,damageable items,inventory problem,simulated annealing,variable replenishment,optimum inventory level,deterministic inventory model,local optimum present,simulated annealing method,non-linear problem,variable unit cost,complex cost surface,unit production cost,sa algorithm,search space,soft computing | Simulated annealing,Mathematical optimization,Stack (abstract data type),Lattice (order),Local optimum,Global optimum,Production cost,Soft computing,Engineering,Profit maximization,Operations management | Journal |
Volume | Issue | ISSN |
49 | 3 | Computers & Industrial Engineering |
Citations | PageRank | References |
5 | 0.58 | 1 |
Authors | ||
2 | ||
Name | Order | Citations | PageRank |
|---|---|---|---|
| Manas Kumar Maiti | 1 | 236 | 20.68 |
| Manoranjan Maiti | 2 | 514 | 47.77 |