Article ID: | iaor20021112 |
Country: | United Kingdom |
Volume: | 8 |
Issue: | 2 |
Start Page Number: | 121 |
End Page Number: | 138 |
Publication Date: | Mar 2001 |
Journal: | International Transactions in Operational Research |
Authors: | Sarker B.R., Newton Charles, Runarsson Thomas P. |
Keywords: | inventory: order policies |
The purpose of this research is to determine an optimal batch size for a product, and the purchasing policy of associated raw materials, for a manufacturing firm. Like any other practical situation, this manufacturing firm has a limited storage space, and transportation fleet of known capacity. The mathematical formulation of the problem indicates that the model is a constrained nonlinear integer program. Considering the complexity of solving such a model, we investigate the use of genetic algorithms (GAs) for solving this model. We develop both binary and real coded genetic algorithms with six different penalty functions. In addition, we develop a new procedure to solve constrained optimization models using penalty function based GAs. The real coded genetic algorithms work well for the batch sizing problem. The detailed computational experiences are presented.