A two-storage model for deteriorating items with holding cost under inflation and Genetic Algorithms

( Vol-2,Issue-4,April 2016 )

Author(s): Dr. Ajay Singh Yadav, Ms. Anupam Swami, Mr. Raj Kumar Singh

Total View : 1444
Downloads : 164
Page No: 251-258
DOI:

Keywords:

Genetic Algorithms, EOQ model, Rented warehouse (RW), Owned warehouse (OW).

Abstract:

A deterministic inventory model has been developed for deteriorating items and Genetic Algorithms (GA) having a ramp type demands with the effects of inflation with two-storage facilities. The owned warehouse (OW) has a fixed capacity of W units; the rented warehouse (RW) has unlimited capacity. Here, we assumed that the inventory holding cost in RW is higher than those in OW. Shortages in inventory are allowed and partially backlogged and Genetic Algorithms (GA) it is assumed that the inventory deteriorates over time at a variable deterioration rate. The effect of inflation has also been considered for various costs associated with the inventory system and Genetic Algorithms (GA). Numerical example is also used to study the behaviour of the model. Cost minimization technique is used to get the expressions for total cost and other parameters.

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