Article ID: | iaor20013188 |
Country: | United States |
Volume: | 37 |
Issue: | 1/2 |
Start Page Number: | 273 |
End Page Number: | 276 |
Publication Date: | Oct 1999 |
Journal: | Computers & Industrial Engineering |
Authors: | Mak K.L., Wong Y.S., Huang G.Q. |
Keywords: | genetic algorithms |
This paper is concerned with the optimal control of inventory items which experience lumpy demands. A mathematical model is developed for the determination of optimal replenishment policies for such items. In order to avoid disrupting the inventory system, a maximum issue quantity of w units is specified such that customer orders with sizes exceeding w units will be filtered out of the inventory system and treated as special orders to be satisfied by placing special replenishment orders to a supplier. Customer orders with sizes less than or equal to w units will be met from stock. A genetic search algorithm is developed to solve the problem. The theoretical results obtained are illustrated with a numerical example.