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Mishra, Vivek. Multiple independent de optimizations to tackle uncertainty and variability in demand in inventory management. (). King Mongkut's University of Technology North Bangkok. Central Library. : , 2023.
Multiple independent de optimizations to tackle uncertainty and variability in demand in inventory management
Name: Maitra, Sarit
Organization :
Alliance University. Business School
Email :
sarit.maitra@gmail.com
Name: Kundu, Sukanya
Organization :
Alliance University. Business School
Email :
sukanya.kundu@allience.edu.in
Name: Mishra, Vivek
Organization :
Alliance University. Business School
Email :
vivek.mishra@alliance.edu.in
keyword:
Differential evolution
LCSH:
Genetic algorithms
LCSH:
Inventory control
Abstract:
To determine the effectiveness of metaheuristic
Differential Evolution optimization strategy for inventory
management (IM) in the context of stochastic demand, this
empirical study undertakes a thorough investigation. The
primary objective is to discern the most effective strategy for
minimizing inventory costs within the context of uncertain
demand patterns. Inventory costs refer to the expenses
associated with holding and managing inventory within a
business. The approach combines a continuous review of IM
policies with a Monte Carlo Simulation (MCS). To find the
optimal solution, the study focuses on meta-heuristic
approaches and compares multiple algorithms. The outcomes
reveal that the Differential Evolution (DE) algorithm
outperforms its counterparts in optimizing IM. To fine-tune the
parameters, the study employs the Latin Hypercube Sampling
(LHS) statistical method. To determine the final solution, a
method is employed in this study which combines the outcomes
of multiple independent DE optimizations, each initiated with
different random initial conditions. This approach introduces a
novel and promising dimension to the field of inventory
management, offering potential enhancements in performance
and cost efficiency, especially in the presence of stochastic
demand patterns.
King Mongkut's University of Technology North Bangkok. Central Library
Address:
BANGKOK
Email:
library@kmutnb.ac.th
Created:
2023
Modified:
2024-12-20
Issued:
2024-12-20
บทความ/Article
application/pdf
BibliograpyCitation :
In IEEE Computational Intelligence Society Thailand Chapter, King Mongkut's Institute of Technology Ladkrabang. School of Information Technology and Universitas Gadjah Mada. Department of Electrical Engineering and Information Technology. The 15th International Conference on Information Technology and Electrical Engineering (ICITEE 2023) (pp.81-86). Nonthaburi : IEEE Computational Intelligence Society Thailand Chapter, 2023
eng
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Maitra, Sarit
| Title | Contributor | Type |
|---|---|---|
| Multiple independent de optimizations to tackle uncertainty and variability in demand in inventory management
มหาวิทยาลัยเทคโนโลยีพระจอมเกล้าพระนครเหนือ Maitra, Sarit;Kundu, Sukanya;Mishra, Vivek | บทความ/Article |
Kundu, Sukanya
| Title | Contributor | Type |
|---|---|---|
| Multiple independent de optimizations to tackle uncertainty and variability in demand in inventory management
มหาวิทยาลัยเทคโนโลยีพระจอมเกล้าพระนครเหนือ Maitra, Sarit;Kundu, Sukanya;Mishra, Vivek | บทความ/Article |
Mishra, Vivek
| Title | Contributor | Type |
|---|---|---|
| Multiple independent de optimizations to tackle uncertainty and variability in demand in inventory management
มหาวิทยาลัยเทคโนโลยีพระจอมเกล้าพระนครเหนือ Maitra, Sarit;Kundu, Sukanya;Mishra, Vivek | บทความ/Article |