Inventory model of deteriorating items with two-warehouse and stock dependent demand using genetic algorithm in fuzzy environment

Abstract

Multi-item inventory model for deteriorating items with stock dependent demand under two-warehouse system is developed in fuzzy environment (purchase cost, investment amount and storehouse capacity are imprecise ) under inflation and time value of money. For display and storage, the retailers hire one warehouse of finite capacity at market place, treated as their own warehouse (OW), and another warehouse of imprecise capacity which may be required at some place distant from the market, treated as a rented warehouse (RW). Joint replenishment and simultaneous transfer of items from one warehouse to another is proposed using basic period (BP) policy. As some parameters are fuzzy in nature, objective (average profit) functions as well as some constraints are imprecise in nature, too. The model is formulated so to optimize the possibility/necessity measure of the fuzzy goal of the objective functions, and the constraints satisfy some pre-defined necessity. A genetic algorithm (GA) is used to solve the model, which is illustrated on a numerical example

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“…gave an inventory model for deteriorating items with shortages and stock-dependent demand under inflation for two-shops under one management. Yadav et al (2012) developed an inventory model of deteriorating items with stock dependent demand using genetic algorithm in fuzzy environment. Dem and Singh (2012) investigated an EPQ model for damageable items with multivariate demand and flexible manufacturing.…”

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“…They also studied the case where shortages were allowed in each manufacturing and reproduction cycle and similar sufficient conditions, as the nonshortages case, were given. Yadav et al [32] developed an inventory model of deteriorating items with stock-dependent demand using genetic algorithm in fuzzy environment. Dem and Singh [33] investigated an EPQ model for damageable items with multivariate demand and flexible manufacturing.…”