|
NISCAIR ONLINE PERIODICALS REPOSITORY (NOPR) >
NISCAIR PUBLICATIONS >
Research Journals >
Journal of Scientific and Industrial Research (JSIR) >
JSIR Vol.67 [2008] >
JSIR Vol.67(08) [August 2008] >
| Title: | Using multi-objective electromagnetism-like optimization to analyze inventory tradeoffs under probabilistic demand |
| Authors: | Tsou, Ching-Shih
Hsu, Chin-Hsiung
Yu, Fong-Jung |
| Keywords: | Electromagnetism-like optimization
Inventory tradeoff
Multi-objective optimization |
| Issue Date: | Aug-2008 |
| Publisher: | CSIR |
| Abstract: | This paper studies a bi-objective inventory model that intends to simultaneously determine order size and safety factor
without estimating shortage cost or implicitly conducting monetary evaluation of customer service. A solution algorithm based
on electromagnetism-like mechanism is employed to analyze tradeoff between expected total relevant cost and expected number
of stockout occasion under probabilistic demand. Inventory decisions generated from MOEMO (multi-objective
electromagnetism-like optimization) are not easily dominated by traditional methods, but also MOEMO tradeoff spread much
wider than those of sequential and simultaneous methods. |
| Page(s): | 569-573 |
| ISSN: | 0022-4456 |
| Source: | JSIR Vol.67(08) [August 2008]
|
|
