The Combination of Discrete-Event Simulation and Genetic Algorithm for Solving the Stochastic Multi-Product Inventory Optimization Problem
| Autor: | Jackson Ilya, Tolujevs Jurijs, Reggelin Tobias |
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| Jazyk: | angličtina |
| Rok vydání: | 2018 |
| Předmět: | |
| Zdroj: | Transport and Telecommunication, Vol 19, Iss 3, Pp 233-243 (2018) |
| Druh dokumentu: | article |
| ISSN: | 1407-6179 2018-0020 |
| DOI: | 10.2478/ttj-2018-0020 |
| Popis: | The paper describes an eventual combination of discrete-event simulation and genetic algorithm to define the optimal inventory policy in stochastic multi-product inventory systems. The discrete-event model under consideration corresponds to the just-in-time inventory control system with a flexible reorder point. The system operates under stochastic demand and replenishment lead time. The utilized genetic algorithm is distinguished for a non-binary chromosome encoding, uniform crossover and two mutation operators. The paper contains a detailed description of the optimization technique and the numerical example of six- product inventory model. The proposed approach contributes to the field of industrial engineering by providing a simple, but still efficient way to compute nearly-optimal inventory parameters with regard to risk and reliability policy. Besides, the method may be applied in automated ordering systems. |
| Databáze: | Directory of Open Access Journals |
| Externí odkaz: |
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