PARTICLE SWARM OPTIMIZATION OF INVENTORY MODEL WITH TWO WAREHOUSES
AJAY SINGH YADAV *
Department of Mathematics, SRM Institute of Science and Technology (formerly known as SRM University), Delhi-NCR Campus, Ghaziabad, India.
ANUPAM SWAMI
Department of Mathematics, Govt. P. G. College, Sambhal, U.P., India.
GEETHANJALI KHER
Department of Computer Science, Kirori Mal College, Delhi, India.
*Author to whom correspondence should be addressed.
Abstract
Inventory control or inventory optimization is a method of balancing investment to achieve the service-level goal. Here we consider two warehouse inventory models. One is of finite capacity treated as OW (Owned Warehouse) which is at market place and other warehouse is of infinite capacity treated as RW (Rented Warehouse) which is at some other place from the market. Here the objective is to minimize the total cost .In this work Particle Swarm Optimization (PSO) is used to optimize or to minimize the cost. The results produced from the Particle Swarm Optimization (PSO) are compared with mathematical model and Particle Swarm Optimization (PSO). Results show that the Particle Swarm Optimization (PSO) optimized the results more than traditional mathematical model and Particle Swarm Optimization (PSO).
Keywords: Inventory, two-warehouse, Particle Swarm Optimization (PSO)