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Multi-Item Inventory Problems Revisited Using Genetic Algorithm
Prasun Das 한국경영과학회 2007 Management Science and Financial Engineering Vol.13 No.2
This paper makes an attempt to compare the two important methods for finding solutions of multiitem inventory problem with more than one conflicting objectives. Panda et al. [9] discusses a distance-based method to find the best possible compromise solution with variation of priority under the given weight structure. In this paper, the problem in [9] is revisited through the Pareto-optimal front of genetic algorithm with the help of a situation of retail stocking of FMCG business. The advantages of using the solutions from the perspective of the decision maker obtained through multiobjective optimization are highlighted in terms of population search, weighted goals and priority structure, cost, set of compromise solutions along with prevention of stock-out situation.
Prasun Das 한국경영과학회 2005 Management Science and Financial Engineering Vol.11 No.2
This paper considers a special case of the two-dimensional bin-packing problem for identical items. The objective of this work is to maximize the space utilization. The main contribution of the paper is to suggest a new heuristic algorithm keeping in view the existing complexity of racking system for the footwear boxes in the compartments of different sizes for a warehouse. The results show that a significant improvement can be obtained. An economic choice of compartments is also estimated using the criteria for maximizing space utilization. A non-linear mathematical model was presented based on the constraints of racking dynamics.