A production-inventory model for a deteriorating item incorporating learning effect using genetic algorithm
type: Item
instance of: scholarly article
title: A production-inventory model for a deteriorating item incorporating learning effect using genetic algorithm
zbMATH Open document ID: 1198.90033
DOI: 10.1155/2010/146042
author: Debasis Das
author: Arindam Roy
author: Samarjit Kar
published in: Advances in Operations Research
publication date: 2010-11-16T00:00:00Z
full work available at URL: https://eudml.org/doc/227817
review text: Summary: Demand for a seasonal product persists for a fixed period of time. Normally the ``finite time horizon inventory control problems'' are formulated for this type of demands. In reality, it is difficult to predict the end of a season precisely. It is thus represented as an uncertain variable and known as random planning horizon. In this paper, we present a production-inventory model for deteriorating items in an imprecise environment characterised by inflation and timed value of money and considering a constant demand. It is assumed that the time horizon of the business period is random in nature and follows exponential distribution with a known mean. Here, we considered the resultant effect of inflation and time value of money as both crisp and fuzzy. For crisp inflation effect, the total expected profit from the planning horizon is maximized using genetic algorithm (GA) to derive optimal decisions. This GA is developed using Roulette wheel selection, arithmetic crossover, and random mutation. On the other hand when the inflation effect is fuzzy, we can expect the profit to be fuzzy, too! As for the fuzzy objective, the optimistic or pessimistic return of the expected total profit is obtained using, respectively, a necessity or possibility measure of the fuzzy event. The GA we have developed uses fuzzy simulation to maximize the optimistic/pessimistic return in getting an optimal decision. We have provided some numerical examples and some sensitivity analyses to illustrate the model.
Mathematics Subject Classification ID: 90B05
Mathematics Subject Classification ID: 90B30
Mathematics Subject Classification ID: 90C59
zbMATH DE Number: 5816393
Wikidata QID: Q58650423
describes a project that uses: Genocop
MaRDI profile type: Publication
OpenAlex ID: W1989761658
cites work: Inventory control. Models and methods
cites work: Q5343971
cites work: A deteriorating multi-item inventory model with fuzzy costs and resources based on two different defuzzification techniques
cites work: Q5446649
cites work: Economic analysis of inventory systems
cites work: The effects of inflation and time-value of money on an economic order quantity model with a random product life cycle
cites work: Two storage inventory model with fuzzy deterioration over a random planning horizon
cites work: An inventory model for a deteriorating item with displayed stock dependent demand under fuzzy inflation and time discounting over a random planning horizon
cites work: Minimizing the total completion time in a single-machine scheduling problem with a time-dependent learning effect
cites work: A note on optimal inventory management under inflation
cites work: Inventory model for stock-dependent consumption rate
cites work: Optimal time varying lot-sizing models under inflationary conditions
cites work: Q4668503
cites work: Fuzzy inventory model with two warehouses under possibility constraints
cites work: A note on chance constrained programming with fuzzy coefficients
cites work: Fuzzy sets and systems. Theory and applications
cites work: Ranking fuzzy numbers in the setting of possibility theory
cites work: Q3997786
cites work: Q4023071
cites work: Optimization by Simulated Annealing
cites work: Thermodynamical approach to the travelling salesman problem: An efficient simulation algorithm
DBLP publication ID: journals/advor/DasRK10
Recommended article: A Genetic Algorithmic Approach on a Deterministic Inventory Model for Deteriorating items with Shortages
Recommended article: Q5860585
Recommended article: Two-warehouse production inventory model for a deteriorating item with time-varying demand and shortages: a genetic algorithm with varying population size approach
Recommended article: A single period inventory model of a deteriorating item sold from two shops with shortage via genetic algorithm
Recommended article: Inventory model of deteriorating items with two-warehouse and stock dependent demand using genetic algorithm in fuzzy environment
Recommended article: Q5446652
Recommended article: An integrated multi-lot-size production inventory model for deteriorating item
Recommended article: A production-recycling-inventory model with learning effect
Recommended article: A production model for deteriorating inventory items with production disruptions
Recommended article: An application of genetic algorithm in solving an inventory model with advance payment and interval valued inventory costs
description: scientific article; zbMATH DE number 5816393