Statistical model for inventory optimization using genetic approach.

Autor: Chaudhari, Rekha H., Gor, A. S., Narsingani, Fenny J.
Předmět:
Zdroj: AIP Conference Proceedings; 2023, Vol. 2728 Issue 1, p1-9, 9p
Abstrakt: Generally it is required in every retail and warehouse stores to manage inventories to run operation in smooth manner. Earlier retailers were not use this kind of systems and it was used by big warehouses of stores,so they could easily manage inventories. But now a day every retailer are using inventory management system whereas warehouse stores are using advanced approaches like random forest, decision tree, genetic approach etc. Out of these here in this paper author utilizing Genetic approach to provide statistical model for optimization in inventory management. Gross Margin Return on Inventory Investment is preferably used in retail stores whereas Deterministic or stochastic models are used in warehouse stores. These models can be used to explain system by using above mentioned components. With these models e can predict the behaviour of business in optimized manner. GA is used to provide optimized search along with to offer population of solutions. With this approach we can eliminate the excess use of mathematical modeling. This paper mainly focuses on the elimination of excess mathematical by using Genetic approach to offer optimized inventory management. [ABSTRACT FROM AUTHOR]
Databáze: Complementary Index